• Get Started 855.833.3614 (M-F: 8 am – 9 pm, Sat: 9 am – 3 pm)
  • Request info
  • Support 800.430.7161 (24/7)

Bank of America Merchant Services and Bypass Present PYMNTS.com Quarterly Restaurant Readiness IndexTM

April 19, 2018

FOR IMMEDIATE RELEASE

Media Contacts:
Bryn Winburn, Bank of America Merchant Services
bryn.winburn@bankofamericamerchant.com
980.386.2261

CHARLOTTE – In collaboration with Bank of America Merchant Services and Bypass Mobile, PYMNTS.com today launched its latest Restaurant Readiness Index™ measuring the level of innovation in the U.S. quick-service restaurant (QSR) industry. The index tracks QSRs’ use of online ordering, in-store beacons, alternative payment methods and other capabilities that make ordering and engagement 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, 173 operated between eight and 2,630 locations. These include burger, bakery/café, chicken, frozen dessert, ethnic foods, sandwich, and soup/salad/bowl chains.

Among this quarter’s most notable findings:

  • The soup/salad/bowl QSR segment tops the index for innovation. Sandwich QSRs landed in a close second place. Restaurants serving frozen desserts remain at the other end of the spectrum with the worst QSR scores. Mexican food QSRs have the most consistent performance.
  • QSRs need to rein in their purchasing features. QSRs currently offer customers more than 100 purchasing features— ranging from curbside pick-up to order authentication— but customers only care about 30 of them. Some customer favorites include in-store offers, multiple-payment acceptance and various pick-up methods.
  • Digital wallets remain popular when paying in-store. However, QSRs are enabling their use at lower rates online and in mobiles apps.

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 latest Restaurant Readiness Index, please visit: https://www.pymnts.com.

About Bank of America Merchant Services

Bank of America Merchant Services is a global leader in payments, eCommerce and security solutions. It helps clients of all sizes effectively manage and grow their businesses by enabling them to deliver convenient, compelling commerce experiences for their customers.

Powerhouse brands Bank of America and First Data formed Bank of America Merchant Services in 2009. Today the company processes 16.6 billion transactions at approximately 705,000 merchant locations throughout the United States, Canada and Europe.1

Learn more about Bank of America Merchant Services and its solutions for businesses of all sizes at https://merch.bankofamerica.com.

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, visit www.bypassmobile.com.

Download PDF (282 KB)

Get Started

Call us

855.833.3614

Chat with us

Support

Call Us

800.430.7161