QSR Innovation Index - Bypass, BAMS & PYMNTS Shed Light on Tech Usage

Today, Bypass and PYMNTS.com completed the first of four Restaurant Readiness Indexes in collaboration with Bank of America Merchant Services.

The Index covers how QSR merchants (even the big ones) are lagging in their adoption of technology and what they can do to help improve their usage of these vanguard services.

You can read the PYMNTS article HERE

And you can download the Index below:

 

Official Press Release:

CHARLOTTE – In collaboration with Bank of America Merchant Services and Bypass, PYMNTS.com today launched its first-ever Restaurant Readiness Index that assesses the level of innovation in the U.S. quick-service restaurant (QSR) industry. The Index measures QSRs' use of online ordering, in-store beacons, alternative payment methods and other capabilities that make things 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 , 172 operated between eight and 2,630 locations. These include burger, bakery, café, chicken, frozen dessert, Mexican, sandwich, and soup/salad/bowl chains.

Among the most notable findings:

  • The innovations most likely to place a QSR at the top of the index include accepting new and alternative payment methods , kiosks to enable self - service ordering , and cloud - based point - of-sale systems . Most QSRs, however, are failing to implement those features..
  • The soup/salad QSR segment ranked highest for innovation . At the other end of the spectrum, restaurants serving frozen desserts performed the worst.
  • 15 percent of QSRs analyzed accept payments via digital wallets . The coffee/tea segment owned the highest implantation score for this feature.

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.

Bank of America Merchant Services,, a global leader in payments, eCommerce and security solutions, and Bypass, a leading innovator in enterprise point-of-sale systems for the multi-site food and beverage industry, sponsored the development and publication of PYMNTS.com’s Restaurant Readiness Index. Neither company supplied PYMNTS.com with client payments processing data for analysis.

 

About Bank of America Merchant Services

Bank of America Merchant Services connects businesses and their customers by doing payments better. The company delivers payments, commerce and security solutions, as well as consultation services, to businesses throughout the United States, Canada and Europe. It processed more than 15.2 billion transactions at approximately 660,0000 merchant locations in 2016. ¹ The company is a joint venture that combines the technology and innovative products of First Data with the relationship strength and prominent global brand of Bank of America. To learn more, please visit https:://merch.bankofamerica.com

¹ Based on bankcard, other credit, and PIN debit sales volume and transactions. Per the Nilson Report, March 2017, Issue 1105.

 

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 https://www.bypassmobile.com    

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Bypass Wins Citi Field - Home of New York Mets

Citi Field upgrades POS and Commerce Technology to Bypass!

Bypass is excited to announce its partnership with the New York Mets to bring Bypass POS running on Clover’s industry leading commerce hardware to the Citi Field for the 2018 baseball season.

Citi Field also chose to engage with Bypass's new professional services offering, created to help large venues smoothly transition from legacy POS to the Bypass system. “Our experience in working with large, complex sports venues has resulted in advising clients to begin projects as early in the offseason as possible,” said Bypass COO Berkley Simmons.  “We are thrilled the Mets are leveraging a new professional services offering Bypass created specifically for large venues which maps all commerce workflows and leverages the upgrade cycle to consider workflow adjustments that will deliver speed, security, and operating efficiency."

The New York Mets joins 13 other MLB clubs that leverage Bypass technology for many aspects of commerce in their ballpark - including mobile, premium and general concessions.  Bypass now operates in 41% of Tier 1 sports venues (MLB, NFL, NBA, NHL, and MLS).

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What Sports Can Learn from QSR & Vice Versa

A manual doesn’t help when it’s halftime and people are screaming at you and you need to fulfill those orders quickly
— Geoff Johnson, Chief Innovation Officer

Geoff Johnson recently spoke with Karen Webster of PYMNTS.com and discussed how the sports concessionaires and the QSR merchants of today can learn from each other in interesting and powerful ways.

Read the full article HERE

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