- February 3, 2020 / 6 min readWith this partnership, Adyen will be supporting Subway and its Franchise Owners in developing a simpler and more customer-centric payments experience in-restaurant, online and through the Subway App.
Subway, the world's largest quick service restaurant by restaurant count, selects Adyen, the global payments platform of choice for many of the world's leading companies, as its payments partner for North America.
With this partnership, Adyen will be supporting Subway and its Franchise Owners in developing a simpler and more customer-centric payments experience in-restaurant, online and through the Subway App. The company will offer automated onboarding for franchisees and support for preferred payment methods such as mobile wallets, loyalty rewards, in-app payments, POS terminals, gift cards and other methods.
Mike Macrie, Chief Information Officer of Subway, said, “Our goal remains the same, to provide guests with a world-class and seamless Subway experience. As we continue our digital push to offer our guests greater convenience and more options, Adyen's payment platform will further allow Subway to bring the latest digital payment technologies to market, while removing operational complexities for our Franchise Owners.”
Subway is operating in over 100 countries globally. Its restaurants are owned and operated by 21,000 franchise owners.
Kamran Zaki, Chief Operations Officer of Adyen, stated, “We are thrilled to be partnering with Subway. Together we are streamlining operations, increasing efficiencies and creating new pathways to building customer relationships in this digital age. We are excited to offer a solution that not only simplifies business for QSRs, but also makes the experience better for their Franchise Owners and consumers alike. Adyen's platform provides the flexibility to meet shoppers' needs today and tomorrow.”
QSR’s Statistical View
As per a recent report, the Food Industry is no doubt booming at a fast rate, with Full-service restaurants and Quick Service Restaurant (QSR) together accounting for around 73% of the total restaurant industry.
According to the report by the National Restaurant Association of India, the overall restaurant market will touch Rs 510 billion in the next four years, from the current Rs 205 billion. It said that QSR space would be amongst the fastest-growing, touching nearly Rs 250 billion of the overall market in the next few years. This segment is expected to witness increased activity via market expansion and entry by various players.
Popularity of QSR in India
QSRs have gained popularity with evolving lifestyles, urbanisation, and growing nuclear families. They are growing faster than the full-service restaurants across the globe due to their quick deliveries and competitive pricing that attract consumers. McDonald’s was the first QSR in India followed by various others such as KFC and Dominos.
QSRs have always been a zone of attraction for both consumers and business investors, making its franchises a lucrative segment for investment. QSR can be a one-stop destination for budding entrepreneurs that are stepping in this industry for the first time.
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