The news: Payment technology provider Shift4 launched SkyTab POS, a suite of restaurant-focused point-of-sale (POS) solutions, per a press release. SkyTab POS was already in use at major stadiums, but it’s now available to all businesses.

• Hardware includes the SkyTab POS workstation, the SkyTab Mobile handheld device, and SkyTab Glass tablet option.
• The software supports ordering and reservations, either online or in person, and QR code payments. It also offers solutions for marketing and loyalty, reporting and analytics, and employee management.
• Restaurants can also use third-party integrations with several property management systems (PMS) and online ordering apps like DoorDash through SkyTap’s built-in Marketplace.

Why it’s worth watching: Declining cash use and higher demand for vertical-specific offerings have led payment providers like Block and Adyen to invest more in restaurant solutions. SkyTab can help Shift4 compete more aggressively with these providers.

• The share of POS payments made with cash in North America fell 3.5% year over year (YoY) in 2021, per FIS. And between 2021 and 2025, cash use is expected to tumble 45%.
• That makes supporting digital ordering and payments a must for restaurants: 54% of restaurant franchise owners said mobile ordering was a key area of investment for 2022, per TD Bank.

Why this could succeed: SkyTab POS’s comprehensive product suite can appeal to restaurants.

• SkyTab POS lets restaurants avoid having to purchase external business tools, which can be more expensive.
• Combining POS functions with value-added services can also help restaurants avoid costs from connecting third-party business services. These savings could be critical for restaurants if the US economy enters a downturn.
• Connecting third-party business service providers can also be complex and time-consuming for restaurants—especially for those with limited staff.

Go deeper: Check out our Point-of-Sale report and our Small-Business Payment Disruptors report to learn more about the key payment trends we’re keeping a close eye on.

This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.

• Are you a client? Click here to subscribe.
• Want to learn more about how you can benefit from our expert analysis? Click here.