Contactless technology is going mainstream, and it’s not just about placing an order online, but also about paying with a smartphone, smartwatch or smartcard via an app or touchless device.

New payment technologies have been slowly gaining momentum within the global restaurant industry, but this trend has accelerated with the pandemic. It’s estimated that contactless payments will triple from $2 trillion to $6 trillion worldwide by 2024, and having such options are reportedly extremely important for 34% of customers. 

With no cash hand, no human contact is required – more hygienic and safer – and it’s quick, instant and convenient. From a cash flow point of view, it’s also more efficient. If restaurants don’t want to be left behind in the coming year, those who haven’t yet done so better invest and plan for a mobile and digital payment strategy.