|[December 06, 2017]
Bank of America Merchant Services and Bypass Present PYMNTS.com Restaurant Readiness Index™
In collaboration with Bank of America Merchant Services and Bypass
Mobile, PYMNTS.com today launched its first-ever Restaurant Readiness
Index that assesses the level of innovation in the U.S. quick-service
restaurant (QSR) industry. The index measures QSRs' use of online
ordering, in-store beacons, alternative payment methods and other
capabilities that make things easier and more convenient for guests.
PYMNTS.com studied 178 QSRs and tracked the presence or absence of key
convenience features when customers order and pay in-store, on a mobile
device or via the web. Of the 178 QSRs analyzed, 172 operated between
eight and 2,630 locations. These include burger, bakery/café, chicken,
frozen dessert, Mexican, sandwich, and soup/salad/bowl chains.
Among the most notable findings:
The innovations most likely to place a QSR at the top of the index
include accepting new and alternative payment methods, kiosks to
enable self-service ordering, and cloud-based point-of-sale systems. Most
QSRs, however, are failing to implement those features.
The soup/salad QSR segment ranked highest for innovation. At
the other end of the spectrum, restaurants serving frozen
desserts performed the worst.
15 percent of QSRs analyzed accept payments via digital wallets.
The coffee/tea segment owned the highest implantation score for this
Some of the most recognized QSR brands earned top rankings in the index.
Among the attributes that made them stand out: their likelihood of
offering QR code, inventory checking, online-ordering/in-store pick up,
and saved-payment-method capabilities.
To read the Restaurant Readiness Index, please visit: https://www.pymnts.com.
Bank of America Merchant Services, a global leader in payments,
eCommerce and security solutions, and Bypass, a leading innovator in
enterprise point-of-sale systems for the multi-site food and beverage
industry, sponsored the development and publication of PYMNTS.com's
Restaurant Readiness Index. Neither company supplied PYMNTS.com with
client payments processing data for analysis.
About Bank of America Merchant Services
Bank of America Merchant Services connects businesses and their
customers by doing payments better. The company delivers payments,
commerce and security solutions, as well as consultation services, to
businesses throughout the United States, Canada and Europe. It processed
more than 15.2 billion transactions at approximately 660,000 merchant
locations in 2016.¹ The company is a joint venture that combines the
technology and innovative products of First Data with the relationship
strength and prominent global brand of Bank of America. To learn more,
please visit https://merch.bankofamerica.com
¹Based on bankcard, other credit, and PIN debit sales volume and
transactions. Per the Nilson Report, March 2017, Issue 1105.
About Bypass Mobile
Bypass Mobile, LLC is the leading innovator in enterprise POS systems,
robust back office management tools, and rich insights engines for the
multi-site food & beverage industry. Its approach helps over 160
professional and collegiate sports venues and national restaurant chains
accelerate profit, efficiency, and guest experience beyond levels
achieved with legacy solutions. This happens with tablet POS terminals
and a cloud-enabled open API platform broad enough to serve the full
spectrum today's needs and agile enough to rapidly support future
requirements. The company has deployed 10,000+ devices at a cost, pace,
and ease of integration never before possible. For more information,
View source version on businesswire.com: http://www.businesswire.com/news/home/20171206006064/en/
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