Smart phone payments at lunch double in last year

Industry
20/09/2017 - 07:15
People are twice as likely to use their smart phone to pay for lunch than they were a year ago, according to research from Vianet.

The hospitality softwear priovider says that the restaurant and bar trades are the main drivers behind the number of mobile transactions as a percentage of all in-store transactions growing by 247% in the UK over the last year.

According to the Smart Payment Association, this trend is set to continue over the coming years, with half the consumers in major markets predicted to be using a combination of smartphones and wearables to make payments by 2018.

In September FitBit, the smart watch provider, announced a partnership with Mastercard; and Peugeot launched the world’s first Smart Pay device in a car key.

Matt Lane, Vianet managing director, said: “Life is becoming increasingly fast paced and technology that saves time, such as Smart Pay and wearable devices, are going to be a hit with consumers.

“When people think of contactless payment, they often limit their thinking to contactless card devices, when in reality the opportunities are endless. From car keys, to watches and even glasses, novel and practical ways to make payment easier are springing up everywhere and making consumer’s lives easier.

“This trend presents a great opportunity for vending operators to piggy back its popularity and make their estates contactless enabled. The earlier they seize this opportunity, the quicker they can future-proof their businesses, smooth the customer journey and drive sales.”

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