According to the latest industry projections, mobile payment transactions are projected to reach $1.3 trillion by 2017.
Not surprisingly, the food service industry will claim a large portion of this burgeoning market as worldwide physical goods sales from mobile devices will account for 30% of all retail within four years.
As a result, retail and mobile technology experts predict that it will soon be nearly impossible to find a restaurant (national chain or a locally owned, small establishment) that doesn’t use some form of mobile payments platform.
And the reasons for this revolution are every bit as beneficial to the restaurant as they are to patrons.
PayAnywhere, one of the nation’s leading and more trusted providers of mobile payment solutions, has just produced a new infographic illustrating why mobile payments will soon be on the menu everywhere.