Plastic or Paper: It’s All Money To Fast Feeders
By George Anderson
Welcome to the twenty-first century and the reduced paper society.
Fast food operators, the quintessential cash and carry business, are finding that whether payment comes in the form of plastic (credit cards) or paper, it’s all money in the bank.
Plastic, as the industry has discovered, is also a quick way to boost the size of transactions. At Wendy’s, which accepts credit cards at 90 percent of its restaurants, the average ring for meals paid for with plastic is 35 percent higher than those settled with cash.
Accepting credit cards also speeds the time it takes to get consumers through the drive-through. Many restaurants don’t require signatures from customers and using credit cards means neither patrons or employees need to take the time to count change.
Moderator’s Comment: Are we headed for a paperless society as many have suggested? Why have so many fast food restaurants been slow to accept credit
cards as payment? What impact will accepting cards have on fast food businesses?
We have to admit getting a little confused at a stop at a nearby Wendy’s recently. After placing the order, we were asked, “Will that be cash or credit?”
For a second we thought we were at a gas station. –
George Anderson – Moderator