By Sara Rush
Apply Pay. Tap-and-Go. Paypal. EMV. In the ever-evolving world of payment, restaurants are being forced to reevaluate their POS systems and potentially spend large sums to upgrade with the times. While mobile pay gets a lot of press, the real driver behind the need to modernize is the October 2015 deadline to integrate chip-and-pin credit-card readers, in advance of an impending shift in fraud liability from card issuers to retailers and restaurants.
That's not to say that contactless payments aren't important. Operators admit, while the number of customers using e-wallets is low, it's still a consideration (and increasingly so) when looking at POS solutions. "You might lose business if you don't accept [a customer's] preferred payment," says Adam Scott, CFO and co-founder of Atlanta-based Wing Zone.