Tuesday, October 14, 2014

A New Breed Of Apps Could Completely Change The Way We Pay In Bars And Restaurants

Source: http://www.businessinsider.com/a-new-breed-of-apps-could-completetly-change-the-way-we-pay-in-bars-and-restaurants-2014-9

US Lyft Uber Revenue

The success of apps like Uber and Seamless provide a powerful template for how we may soon pay for even more things in the physical world.

Car-hailing app Uber enables users to pay for a car service entirely within the app, for example. The company generated about $1.2 billion in US revenue in the last year, according to BI Intelligence estimates. And Seamless has made a comparable impact on food delivery. 

But Uber and Seamless are just the beginning. While still nascent, a new breed of apps like Cover, Dash, and even OpenTable is taking mobile commerce into stores and promising to revolutionize the way we make payments at restaurants and bars. These apps provide an alternative way for mobile payments to take off, eliminating all need for outside hardware.

In a new report from BI Intelligence we take a close look at these apps, the advantages they provide to both consumers and merchants, and why they could gain more traction than any other mobile payment technology on the market. 

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Here are some of the key takeaways from the note. 

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In full, the research note

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