McDonald's Expanding Tests Of Cashless Payments


Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
1 min read
Opinions expressed by Entrepreneur contributors are their own.

-In its ongoing quest to cut service times for , Corp. said it's expanding a range of electronic payment systems that let customers buy burgers without the hassle of digging out bills or credit cards.

In the Chicago area, McDonald's home market, regional operators recently voted to give their more than 400 area stores the option of letting customers purchase Quarter Pounders, french fries and other menu items using a payment device designed by Mobil Corp. three years ago for use primarily at its Mobil gas stations.

Customers wave Speedpass-a small barrel-shaped radio transponder-at a reader located at a McDonald's drive-thru or a counter inside the restaurant. Mobil lets customers link the Speedpass to a major credit card, which subsequently adds the McDonald's transactions to their monthly bill.

"It's clear that cashless are something our customers are very interested in," Lisa Howard of McDonald's told Reuters. The Speedpass system has been tested in nine Chicago area stores since October 2000 before franchisees decided to expand it to their entire market, she adds. -Reuters

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur