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18/08/2009 -
Accepting credit cards is important for any business, as it can help increase sales and customer acquisition. But in industries where customer service is key and turnover speed makes a significant difference in the bottom line, accepting credit cards is especially important.One example is the restaurant industry, and in particular the quick service or fast food sector.
The results are noticeable - Visa studied more than 100,000 drive-through transactions at two major quick service brands and found that customers paying with credit card spent an average of 20 percent to 30 percent more than customers paying with cash.
In addition, 96 percent of customers surveyed after paying with credit cards said that the self-service credit card technology was "very easy" to use, and that they were satisfied with the speed of service.
"Although we are continuing to collect and analyze data, results of the studies we have conducted regarding the impact of cards on drive-thru operations within the [quick service restaurant] industry appear very positive," said David Kaiser, president of fast food industry research firm Global Growth Group.
As the survey demonstrates, accepting credit cards is an easy way for merchants in all industries to boost their bottom lines and improve their customer service.
