27 September 2017, Contactless Payment
Our latest research has revealed that consumers are embracing Smart Pay tech and are twice as likely to use their smart phone to pay for lunch than they were a year ago[1].
The statistics echo those released by World Pay earlier this year, indicating that the number of mobile transactions as a percentage of all in-store transactions has grown by a massive 247% in the UK over the last year.
One of the main drivers behind this growth has been convenience payments in supermarkets, bars and petrol stations across the UK. A positive customer experience at these grab and go purchase situations is significantly impacted by speed, something that Smart Pay greatly helps with.
Smart Pay technology isn’t just limited to mobile phones and big business has started investing heavily in different vehicles to use the technology. In September alone, Fitbit partnered with Mastercard and Peugeot released the world’s first Smart Pay capable car key.
The opportunities for integration are endless and with consumers searching for ever quicker transactions, it is a certainty that Smart Pay in all its different forms will continue to snow ball over coming years.
This presents vending operators with a golden opportunity to piggy back its popularity and make their estates contactless enabled. The earlier they seize this opportunity, the quicker they can future-proof their businesses, drive sales and smooth the customer journey.
[1] Vianet (2017, 01.25). Consumer research into vending on a proportional representative panel of 2000 UK consumer. Ginger Research.
