How mobile credit card payments benefit the restaurant industry
October 28, 2013

Businesses in a variety of industries are discovering the many benefits of investing in tools that make it easier to accept mobile payments from customers. However, restaurants and food services companies have especially caught on in recent months.

According to Mobile Payments Today, participants at the Fast Casual Executive Summit this month in New Orleans focused heavily on the growing trend of mobile credit card processing in the restaurant industry. Not only have several big-name organizations recently adopted new point of sale technology, but industry executives have discovered a host of different benefits that can lead to long-term revenue growth and improved customer retention rates.

"Mobile payments provide the ability to more personally interact with your guests, and you inherently gain more information about your guests that can help you create a different type of customer experience," Geoff Murtaugh, vice president of technical services at Micros, a computer hardware company, told Mobile Payments Today.

Incorporating new electronic payment systems into the dining experience at a restaurant creates new opportunities for businesses to gain a competitive edge in the market. For example, QSR Magazine, a publication covering the fast food service industry, said stores can use mobile technology as a platform to create entirely new gift card programs and loyalty programs. Because advanced transaction technology makes it easier to access a more dynamic set of customer information through each purchase, managers can integrate such data with online rewards programs that encourage diners to return on a more frequent basis.

Mobile Payments Today said these recent advancements are triggering an entirely new era in the restaurant and food services industry. As a result, businesses may want to make early investments in advanced credit card processing technology to ensure they are at the forefront in delivering new standards for both customer service and operational efficiency.

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