The food services industry is poised to capture a large share of the emerging mobile payments market, with estimates pegging food services capturing 30% of the market. While the benefits to restaurant owners of offering these services is clear, the potential for consumers is staggering. A new infographic from mobile payment solution PayAnywhere does a great job of showing the potential of this market, which you can check out here.
The most interesting point in the infographic is around how it addresses consumer needs, speeding checkout, offering flexibility and keeping their data secure. Those alone are enough to make traditional payment methods obsolete in years to come.
PayAnywhere, has built a solid offering serving both end of the market from billion dollar enterprises to “the neighbourhood garage sale”. Their focus on innovative payment applications for the lower end of the market such as solopreneurs, direct sellers and mom and pop shops helps breaks down common challenges faced by these businesses.
Earlier this year, they announced that five Girl Scouts Councils across the U.S. had selected them to power their sales. That example alone shows the power and ubiquity of mobile payments and how it can boost sales. Imagine next time they show up at your door that you aren’t bound by the cash you have on hand and you can buy more boxes? Exactly. Good for the Girl Scouts and we all know they are going to sell way more cookies with this fast and easy payment method.
PayAnywhere isn’t the only player in the market by a long shot, but definitely one worth watching, especially when they can talk about how garage sales and the girl scouts are able to boost sales.