Go to a restaurant in Europe or Asia and chances are they'll settle your tab table side. A waiter will walk up with a mobile machine that lets them dip your card and take your payment instantly. Here in the US, you rarely see this sort of technology in action.

That's why I was super surprised to see a new system in place at a restaurant in Downtown Los Angeles called 71Above. It's a luxe place high in the sky above the city with fancy food and even fancier views.

They're using a new system for guests that allow them to pay right at their table. It's called the RAIL system by a company called TableSafe. It's basically the digital equivalent of the check folio you would get with a paper receipt inside. Except this one hides a tiny screen that lets you see your bill, split up the bill among friends and pay with multiple cards - you can even swipe or dip your card so it never leaves your sight.

It's a win-win situation for consumers and the restaurants. Consumers are in charge of their bill so they can pay only for specific items they ate and pass it along to friends in the party to take care of the rest or you can split up the bill in various ways without consulting a waiter that has to remember how much goes on which card. Restaurants get transactions that are instantly verified so there are fewer chargebacks. Plus, they can presents diners with surveys they'll actually take the time to fill out since they only require a few taps after they pay.

Read the full article on KLTA5's site.