Archive for the “Restaurant Industry” Category

Contactless Payment Goes Mainstream

Of all of the changes COVID-19 will usher into society, one of the most lasting and most prominent will is likely to be an aversion to touching shared surfaces, from door handles to pin pads. That aversion has only been part of the national zeitgeist for a few months, but has already accelerated the trend toward touchless payments.  

About 47% of American consumers are expected to use mobile wallets in 2020. Even two years ago, half of the United States’ stores – approximately 5 million locations – accepted Apple Pay, and 4 million accepted Google Pay.  

Before the pandemic, contactless payments’ biggest hurdle to overcome was security concerns, despite being more secure than traditional payment methods; but as public health concerns become society’s primary focus, lesser fears over security are likely to fall by the wayside.  

The most common form of contactless payment, via the mobile wallet, has big upsides for businesses even beyond public health and consumer comfort. Digital loyalty cards can be seamlessly linked to the mobile wallet, positively impacting penetration rates. Digital payments will enable pay-at-table features and make on-the-go transactions more convenient. And stored-value mobile cards, like the ones Starbucks popularized, will become more mainstream, providing businesses with small, interest-free loans.  

For more information on the benefits of touchless payments, check out this webinar: Is Touchless Payment the New Normal?    

Paytronix customers named to “Top 100 Movers and Shakers” list

May 20, 2020

Last week, Fast Casual announced the winners of its annual Top 100 Movers and Shakers award. The list recognizes 75 fast casual restaurants and 25 executives that have cemented themselves as leaders in the industry, and who “aren’t afraid to take risks in order to grow their businesses as well as to propel the fast casual industry.

Thirteen Paytronix customers were recognized this year for their ingenuity, authenticity and embrace of technology. Five of those restaurants were also recognized for their executives, who are leading their brands to great success.

Congratulations to the winners!

Panera Bread – # 8

For the launch of its new coffee subscription service

And Karen Kelly, senior vice president, chief restaurant operations manager

BurgerFi – #9

For its selection by the U.S. Air Force as part of a global initiative to enhance food quality

And Charles Guzzetta, chief brand development officer

Garbanzo Mediterranean Fresh – #14

For expanding its “clean” food policy to its beverage menu

And James Park, CEO […]

As restaurants reopen, they reinvent themselves

With even those states hit hardest by the coronavirus preparing to reopen the economy, restaurant operators are wondering what that means for their dining rooms. The close quarters that were considered intimate and vibrant just two months ago are unsafe and untenable now, meaning these businesses will have to completely reinvent themselves to continue operating in a post-Covid-19 world.

For many, that means investing heavily in technology that will minimize the contact a guest has with surfaces, from menus to door handles.

Paytronix CEO Andrew Robbins told The Boston Globe he predicts a new restaurant landscape where technology is even more prominent than it is today. He suggested we could see guests using phone apps and QR codes to access their menus and bills, and that order-ahead technology may be used for the dine-in experience in addition to takeout.

Over the last month, major brands across the hospitality industry have been announcing their reopening plans, sharing details of how they’ll keep guests safe.

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Data Dive: Mother’s Day Bump Helps Ongoing Restaurant Recovery

In a trend happening nationwide, we continue to see a recovery among our restaurant clients. Looking at the week-on-week data we can see that the run of positive weekly results has continued, with each day an average of ~5% to 10% higher than the week before. Mother’s Day, however, showed two interesting trends. First, it was a massive uptick from the previous Sunday, but check sizes were also higher than visits, indicating that people visited more expensive restaurants, or at least were ordering food for more people at once.

There is always a bump for Mother’s Day, but the difference this year from the previous trend shows tremendous pent-up demand from the market. Clearly people wanted to spoil mom.

Still, when we look at the fixed-period chart that compares sales to a pre-COVID baseline, we can see that visits and spend are still down, but up from the bottom. We’re a long way from a full recovery, but the trendlines are headed in the right direction.

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