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Cashless payments

3 minute read

23/05/2017

Why cashless payments are a win-win for you and your customers

 

The unbeatable benefits of choosing the right mobile payment provider

Cashless payment technology, such as mobile payments, is revolutionising the retail world for one very simple reason: it’s great for business and customers alike. Faster checkout means happier customers and more business. And with this new digital know-how comes the potential to integrate loyalty initiatives that reward customers and keep them coming back for more. What’s not to like?

There’s a lot of choice out there too. PayPal™, Apple Pay®, Android Pay™,… In the past 10 years, card payments have doubled thanks to such providers, and they will soon overtake cash.

In short, a business that wants to be ready for anything, is a business that can accept card payments almost anywhere. Indeed, the only sensible question is not ‘should I embrace mobile payment technology?’ but ‘which one is right for my business and my customers?’ Watch the video below:

Why cashless payments are a win-win for you and your customers

Why cashless payments are a win-win for you and your customers

Win for customers: faster checkout

The ‘Cashless Society’ is the new norm. And given that shopping online has become so simple with one-click ordering, the in-store shopping experience should be just as smooth. But it isn’t. 90% of sales are still made in store, yet only 35% of businesses have adopted the latest mobile technology. Put it this way, what do you think as a customer when you see the sign ‘cash only’?

Businesses can’t afford to lose a sale in our highly competitive marketplace.

Mobile payment technology offers the opportunity to stay flexibly competitive by providing fast and easy ways to pay, especially as they have become equally fast and easy to set up. For example, you can serve customers in seconds with a fixed or portable NFC (Near Field Communication) card reader, which can move with your business to trade shows and markets.

PayPal is the most frequently used service, with customer payments reaching your PayPal account in seconds. Find out how to improve the customer experience with PayPal Here

Win for businesses: increase customer loyalty

Mobile payment technology offers the opportunity to combine loyalty programs, in-store coupons and redemptions – all which help to improve the shopping experience and retain customers. One sale can literally lead to another.

You can capture customer data by emailing a receipt and following up with offers. You can also use ‘In App’ messages as an always on communication channel.

What’s more, you can be sure this won’t be a difficult sell. A large and growing percentage of the UK public have already bought into this technology: 44% of customers said they used mobile wallets to collect loyalty bonuses; 36% to redeem vouchers; 25% to make payments up to £20. Adoption is highest for those in the 18-34 bracket. Their preferred communication channels are email (59%); mobile wallets (54%), and websites (52%)

Those who have invested in digital transformation are three times more confident about future growth than those who haven’t.
Digital Ready? Report - 2018

Connect with confidence: choose a reliable 4G network

A major consideration when choosing a mobile payment provider is reliability. A card reader on an unreliable or patchy network is as useful as a chocolate teapot. No connection = no sale.

Choose a provider you can count on with a robust network that will take payments wherever your business takes you in the UK, or even abroad. You should feel as confident about making a transaction in a secluded rural hamlet as in the city, offering your customers as many options to pay as possible.

PayPal Here’s award-winning card readers require a strong connection. That’s exactly what they get from Vodafone’s extensive 4G UK coverage.

These days it’s simple to set up a mobile payment solution. Choose Vodafone’s reliable 4G network to ensure you have a good connection and let’s move forward together.

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