Infographic: Mobile Payments Taking Over Restaurants

Infographic Mobile Payments Taking Over RestaurantsResearchMoz has just published its latest market research report exploring the trends and outlook for the restaurant technology market. And the findings point to a strong correlation between food and mobile tech in the modern dining experience.

“Technology continues to increase at a rapid pace and the majority of the population use smartphones or other mobile devices,” the report summary reads.

Nonetheless, ample room for further growth remains. Today, more than half of all restaurant goers do not use online or mobile ordering or payment apps or loyalty programs. But that’s primarily because the restaurants they frequent don’t offer the option of using those particular tools and resources.

“Since the use of technology by consumers at restaurants is a developing opportunity, these rates are likely to increase over time, especially as Millennials gain spending power,” the report authors assert.

According to a recent report and corresponding infographic from mobile payments provider PayAnywhere, U.S. mobile payment transactions are projected to reach $1.3 trillion by 2017. And restaurants will be among the biggest adopters of mobile tech, using everything from iPad-based menus to tablet-based payment options when the check hits the table.

Soon, as mobile POS technology evolves further, restaurants will also be able to send coupons to the phones of customers who opt-in based on their shopping habits or geographic location. They will even be able to offer sophisticated, mobile-based loyalty programs.

So how will mobile payments impact your dining experience in the coming years? Check out the infographic below for some additional clues.