Mobile payments have impacted every type of merchant over the past few years – and restaurants are no exception. Mobile payments are popular among consumers of all ages – though younger demographic groups have been quicker to adopt mobile wallet use and related payment technology.
- In 2015, 38.1% of mobile payments users in the United States were aged 30-44 and 30.1% were aged 18-29 (Source: Statista).
- In 2015, Millennials controlled 30% of the gross income in proportion to all other generations and their purchasing power is valued at $200 billion.
It’s important that your dining establishment is ready to serve these younger age groups that eat out frequently and have an increasing amount of expendable income. Getting on board with mobile wallets and related payment technologies in your restaurant is a great way to attract new diners and keep your current clientele happy.