McDonald’s move is particularly significant for Visa, as one of the biggest barriers to card usage in India is the low level of acceptance, combined with consumer unwillingness to opt for smaller purchases. Now, with one of the most iconic fast food chains embracing small purchases electronically, the tide may be turning in favour of small ticket items.
Speaking on the announcement, Mr. Uttam Nayak, Group Country Manager, India and South Asia, Visa, said, “This partnership highlights that Indian business and Indian consumers are increasingly comfortable using electronic payments for small everyday purchases. It is yet one more example of India’s shift towards a cashless society and another symbol of Visa’s continued commitment to investing in India and the Indian payment infrastructure. Once again Visa remains the best way for Indians to pay and be paid, whatever the size or type of purchase”.
Talking about the initiative, Mr. Amit Jatia, Vice Chairman, Hardcastle Restaurants Private Limited (HRPL), which manages and operates McDonald’s across West and South India, said, “For a Quick Service Restaurant like McDonald’s, fast turnaround of customer orders and convenience of lower cash handling time is of prime importance. Visa has been working exclusively with McDonald’s to enable card payments in its endeavor for a quick turnaround. The solution provided by M/s Innoviti has helped significantly reduce our order processing time to a quick 5 – 10 seconds approximately”. He also added, “McDonald’s has always kept excellence in customer experience at the core of all that it does, and with this convenient and speedy offering we will surely enhance the i’m lovin’ it experience for them.
So, don’t wait! Next time you walk into any McDonald’s (West and South India), pay with your Debit, Credit or your Prepaid card and see how fast your fast food takes.
About Visa Inc.:
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
About McDonald’s:
McDonald's is the world's leading global foodservice retailer with more than 33,000 locations serving approximately 67.8 million customers in 118 countries each day. Celebrating 15 years of leadership in food service retailer in India, McDonald’s today has a network of about 250 restaurants across the country, with its first restaurant launch way back in 1996. Prior to its launch, the company’s suppliers invested six years to develop its unique cold chain, which has brought about a veritable revolution in food handling, immensely benefiting the farmers at one end and enabling customers to get the highest quality food products, absolutely fresh and at a great value.
In line with its respect for local culture, India is the first country in the world where McDonald’s does not offer any beef or pork items. McDonald's has also re-engineered its operations to address the special requirements of vegetarians. Vegetable products are kept separate throughout the various stages of procurement, cooking and serving. The mayonnaise and the soft serves are also 100% vegetarian.
