McDonald's

McDonald’s is trying to make fast food even faster. The Financial Times reports that the worlds’ largest fast food chain plans to replace many of the cashiers at its 7,000 European restaurants with touch screen terminals that allow customers to order and pay electronically.

The move at McDonald’s is similar to what many consumers experience in supermarkets, retailers and gasoline stations that have opted for self-checkout to save on labor costs. McDonald’s says the move is about making its restaurants there more convenient and efficient — it’s also clearly about keeping down costs. If the move proves successful, you can bet competitors like Wendy’s/Arby’s (NYSE:WEN) and Yum! Brands (NYSE:YUM) restaurants KFC and Taco Bell will be taking notice.

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