Contactless payments to increase retailer revenues

McDonald’s will be introducing contactless payment technology throughout all their restaurants this month. I can see why they would do this; as customer adoption increases the average till time will decrease and there will be less cash to deal with.

The interesting thing is that McDonald’s expect this to increase revenue:

Mark Fabes, UK IT director for McDonald’s, said that the move will improve the customer experience. “It’s about the customer journey. It’s quicker than the chip-and-pin transaction,” he said. The firm doesn’t expect the service to experience heavy use initially, but to grow in time, leading to increased revenue.

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I am a partner at Succession Plus. We are specialists in providing proactive, focused and strategic advice for SME owners to help them manage strategic Business Succession and Exit Planning. I am enjoying a career that has embraced product and service businesses at all stages of their journey. I have worked in technology, telecoms, consumer electronics, payments, media, and publishing.

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