A few weeks ago, we profiled Splitbread, a sandwich shop in San Francisco that had implemented a cashless payment system – customers pay only by credit card, debit card or QR code.
In August, two QSR industry leaders – Starbucks and McDonald’s – each launched new initiatives that enable customers to more quickly and conveniently pay with their mobile device.
Starbucks’ entered a partnership with Square, which lets just about any merchant accept credit or debit cards by attaching a free square-shaped credit card reader to an iPhone, iPad or Android device.
Starbucks has been ahead of the curve with mobile payment – already allowing customers to pay via bar code within their mobile app – but the Square relationship will enable more mainstream adoption of using a mobile device to pay at retail.
Meanwhile, McDonald’s announced plans to test a new payments system in which customers use their mobile app to order and pay for meals. PayPal, eBay’s mobile payments platform, would power the transactions.
Ultimately, these alternative payment methods will make it more convenient for customers to interact with these brands.
At the same time, the data these interactions provide could open potential new opportunities for more robust loyalty and alternative daypart strategies.
Photo credit: Joe Ross