According to a new study from point-of-sale manufacturer Harbortouch, restaurants are not meeting the demands customers have for mobile payments in their establishments.
“One of the more interesting findings we uncovered from our survey is the growing desire for consumers to use mobile payment technology at restaurants,” said Jared Isaacman, CEO of Harbortouch. “Currently, most mobile payment transactions happen in retail environments. There is now a unique opportunity for restaurants to gain a competitive advantage by making mobile payments part of the dining experience.”
Survey participants were asked questions about the future of mobile payments in seven categories, including retail and entertainment. One in four respondents said restaurants would be the most likely to utilize mobile payments in the coming years.
The survey also found men to be twice as likely to use a mobile payment platform as women. Millennials show the strongest interest in mobile payments, with 41.9% of mobile payment users falling in this age range.
For respondents who do not use mobile payments, one in five said their dining experiences had been hindered by payment-related issues, like determining what to tip or waiting for a server to pick up the bill. Mobile payments have the potential to eliminate these nuisances, improving the guests’ experience.
The survey consisted of 1,000 U.S. adults, and the results were published at the 2015 National Restaurant Association Show.