Cornell Study Finds Electronic Payments Set to Expand in U.S. Restaurants
Restaurants of all types are looking seriously at implementing electronic payments, and customers in
all restaurant types will increasingly see and use payment technology. Although the restaurant industry has been cautious in adopting electronic payment technology, that is due to change, as explained in a new report from the Cornell Center for Hospitality Research (CHR). The report, "Customer-Facing Payment Technology in the U.S. Restaurant Industry," by Sheryl E. Kimes and Joel E. Collier, is available from the CHR at no charge. Kimes is a professor at the Cornell School of Hotel Administration, and Collier is an associate professor at Mississippi State University."The U.S. restaurant industry is now focusing on mobile technology for many purposes, as they see the
success that some operators have had," said Kimes. "Our survey found that almost all restaurant operators were aware of consumer payment technology, and about half of them were seriously thinking about installing this technology in the next year or two. At the moment, though, only about 12 percent of the restaurants in our survey used mobile payment technology.""We do want to express appreciation to Nation's Restaurant News and Restaurant Hospitality for their
help with survey data," said Collier. "It's clear that we will soon see an explosion in payment technology in restaurants."With data support from Nation's Restaurant News and Restaurant Hospitality, Kimes and Collier conducted a survey of 385 U.S. restaurant operators to find out the advantages and barriers of installing customer facing payment technology. Survey respondents believed they were saving money with the new technology, but they also cautioned that any payment mechanism must synchronize with the POS system. The top three benefits cited by restaurateurs who had installed the technology—mostly limited-service restaurants—are faster check processing, increased customer satisfaction, and reduced customer-waiting time. At the same time, integration with existing systems, cost of the technology, and customer acceptance were identified as major obstacles.
The authors express their appreciation to Nation's Restaurant News and Restaurant Hospitality, two
Penton divisions, for their assistance in gathering data for this study.About the Center for Hospitality Research
The purpose of the Center for Hospitality Research is to enable and conduct research of significance to the global hospitality and related service industries. CHR also works to improve the connections between academe and industry, continuing the School of Hotel Administration's long-standing tradition of service to the hospitality industry. Founded in 1992, CHR remains the industry's foremost creator and distributor of timely research, all of which is posted at no charge for all to use. In addition to its industry advisory board, CHR convenes several industry roundtables each year for the purpose of identifying new issues affecting the hospitality industry.
Center Members: Accenture • Access Point Financial, Inc. • Barclaycard US • Cvent • Davis & Gilbert LLP • Deloitte & Touche USA LLP • DerbySoft • Four Seasons Hotels and Resorts • Fox Rothschild LLP • Hilton Worldwide • Host Hotels & Resorts • Hyatt Hotels Corporation • IDeaS Revenue Solutions • InterContinental Hotels Group • Jumeirah Group • Marriott International • NTT DATA • Preferred Hotels & Resorts • priceline.com • PwC • The Rainmaker Group • RateGain • ReviewPro • Revinate • Sabre Hospitality Solutions • STR • Taj Hotels Resorts and Palaces • Tata Consultancy Services • Wipro EcoEnergy • Wyndham Hotel Group
