With all the various technologies available to implement in your business, choosing the right one at the right time feels like an impossible task. At least that’s how you responded in our recent poll focused on mobile payments.
No savvy operator can deny the momentum that paying via your smartphone has gained in just the few short years it’s been available. With transactions projected to reach the trillion dollar mark in just the next couple of years, and the user numbers likely to top 148 million by the end of this year, how much longer can you ignore this method of payment?
If your poll responses are any indication it may be a while. Starting with the infrastructure obstacle, 86% of you claim your POS won’t integrate with mobile wallet systems. This basically means either manually crediting any mobile payments you take or going without. However we know that 39% of operators do accept mobile wallet transactions. This is dominated by quick-service restaurants, but there is a place in full-service for it to live.
One of the questions we asked was what else was blocking you from implementing. Other than POS integration issues, 57% of you told us your guests aren't asking for it, which may only be the case because they don’t know you could offer it. Given the previously mentioned 148 million users on mobile payment systems, you may want to revisit your belief that guests don’t care about it. The issue you seemed least concerned with was security, with only 14% questioning the safety of mobile payment.
With 43% of operators targeting the next two years for implementation, you may want to get started on your process for exploring mobile payments today. If you wait too long, you will likely be caught wanting as your competitors make it increasingly easy for their guests to check out after service.
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Are you using mobile payment? Yes or no, tell us your story in the comment section below!