Consumer Payment Card News

Fast Food & Cards

Fast food and credit cards seem to come together like fries and burgers. A new study shows that consumers will opt for the apple pie, or other extras, when using credit cards in quick service restaurants. A VISA analysis of 100,000 transactions at restaurants within two different major quick service restaurant brands, reveals the average transaction for credit customers was 20% to 30% higher than for cash customers. In the six-month test, an average 98% of customers interviewed indicated that credit cards were “somewhat” or “very” easy to use at the quick service restaurant counter and drive-thru. Ninety-six percent of customers who paid with a card product interviewed at quick service restaurants were “completely” or “mostly” satisfied with the speed of service. According to Global Growth Group’s “QSR Drive-thru Time Study,” only 7.96% of quick service restaurants visited accepted card payments in 2000. In 2002, 14.47% of the restaurants visited accepted cards. In 2001, Visa QSR volume topped $1.9 billion, a 110% increase over the previous year.

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