Can Modern Payments Give Restaurants an Edge?

The restaurant industry is not for the faint of heart. It’s one of the toughest out there, with plenty of famous statistics to back up that claim—such as the 20 percent survival rate for even five years, for example.

From the outside the restaurant industry is often romanticized, especially today when nearly half our population have self-proclaimed themselves “foodies.” But in reality, chefs often talk about first-time restaurant owners who don't fully understand what it takes to succeed. Many people don’t realize the reason why: restaurant success is about much more than just food.

Why You Need to Have More Than Just 'Good Food'Without good food, a restaurant has little to stand on. But countless restaurants have assumed they’d survive on food alone, only to end up with their doors shuttered shortly after opening. It’s not enough by itself – and successful restaurants realize this, which is why they spend so much time on the “details.”

In his New York Times’…