Mobile payment usage through smartphones is expected to more than double from the end of 2014 to 2016, according to a recent study by Juniper Research. The number of “mobile wallets” is projected to reach 200 million by the end of 2016. As this technology becomes more common, restaurateurs need to know how these applications work, the difference between mobile wallet providers, and how to take advantage of the new opportunities that mobile payments provide. Mobile Wallets: What You Need To Know How Do Mobile Wallets Work? Mobile payment systems store user credit card information and use the near-field communication (NFC) chips in smartphones to let users make payments wirelessly. When a user makes a purchase, a unique tokenized code is sent from theContinue Reading …