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Restaurant industry embraces new payment technology

January 29, 2013

Many leaders involved in foodservice have been optimizing readers and registers in storefront locations to process transactions begun by online credit card processing applications present on smartphones

Some industries are quicker than others to embrace emerging technology. This is evident in the increased interest of the restaurant sector in wireless payment options. Many leaders involved in foodservice have been optimizing readers and registers in storefront locations to process transactions begun by online credit card processing applications present on smartphones.

According to The Huffington Post, processes at restaurants are largely cashless to begin with – most people bring in their plastic options now anyway. The source, citing a Visa study, revealed that 92 percent of American food companies accept credit and debit cards. 

The source did note that fees associated with these sorts of payment methods can be costly, and as such, many owners are looking toward wireless options with mobile phones. 

For instance, in Canada, popular fast food location Tim Hortons, mobile payments using near field communication chips present in BlackBerry smartphones made their debut in November, the first in the nation, according to Engadget. 

The source said many consumers are interested in these transactions because of celebrity endorsements. Triathlete Simon Whitfield was the first person to complete a payment, buying a cup of coffee. 

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