6% of UAE consumers are fine using crypto at restaurants – Oracle survey

    Food and beverage outlets in the UAE are starting to take payments in cryptocurrencies as the sector takes to cutting-edge tech and smart payments. For now, 6% of UAE consumers are okay with doing so with crypto.

    But UAE consumers want these businesses to tackle some legacy issues as well, not least having to wait long for their food to arrive.

    According to Oracle’s survey, 49% of respondents in the UAE don’t feel like waiting more than 5 minutes for their order to be handed over at the counter or drive-thru window, while 62% on diners at restaurants feel the same when made to wait for longer than 10 minutes, Gulf News reported.

    “Online and mobile ordering was a lifeline to restaurants shut down in the pandemic and continues to provide steady revenue,” said Simon de Montfort Walker, Senior Vice-President and General Manager at Oracle’s F&B focused division. “As already short-staffed restaurants reopen, they are grappling with how to manage both in-person diners and deliveries while meeting growing expectations on speed and service. Technology that helps kitchens manage and time orders from multiple channels will be key to keeping pace and ensuring diners stay happy and loyal.”

    More food and beverage (F&B) businesses in the UAE are allowing payments through cryptocurrencies. Right now, 6% of UAE consumers are okay with doing so with crypto. However, cash is still their preferred way to pay 56% of respondents.

    Meanwhile, restaurants are increasingly adapting to new forms of payments to meet changing expectations: 59% of consumers like to pay with a credit card; 38% prefer to utilize contactless payment methods such as Apple or Google Pay; while 6% adopt alt-payments like cryptocurrency.

    As earlier reported, 68% of young adults within the age group of 18-24 in the country are seeking to invest in cryptocurrencies, in the next 5 years, according to YouGov’s survey. However, 20% of them stated that they don’t have enough knowledge about it.

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