Mobile payment processing crucial for restaurant industry growth
January 10, 2014
Restaurant owners may need to make room for mobile payment processing technology in their ongoing operations this year. As the National Restaurant Association prepares to reveal its economic forecast for 2014, enhancing the flexibility of the point of sale is on the minds of many business owners. Consumers are more interested in mobile devices than ever before, and these trends are also starting to enter the minds of managers.
A recent press release from the NRA said the organization expects the nearly 1 million restaurants in the U.S. to experience a fifth consecutive year of steady sales growth. Even though the economy continues to recover at a relatively slow pace, business owners in this industry may have further opportunities to jumpstart expansion by introducing technology that makes it easier to accept mobile credit card payments from customers.
In fact, a recent article from QSR Magazine, a publication focusing on fast-food business news, reported that smartphones and tablets will become more ingrained in overall operations in 2014. While this technology was out of reach for most small and medium-sized organizations in previous years, these tools have advanced so much that they now represent a new normal in the industry. Many companies are expected to enhance the transaction experience this year.
With mobile POS capabilities, restaurants can streamline the overall transaction process for both employees and customers. Diners will likely appreciate the ability to pay for their meals quickly. However, managers and employees may ultimately reap the most benefits from these tools, as previously time-consuming tasks suddenly become much more efficient. As restaurants anticipate more growth in the near future, maximizing the efficiency of the payment process through mobile POS tools will come as a major advantage.