The payments landscape is constantly shifting and innovating, and right now it is doing so in particularly exciting and fast-paced ways. One of the most important areas of change and innovation is convenience retail, and the role the convenience store plays at the heart of local communities.
Convenience stores are a true touch point for consumers, and therefore are a natural platform for service providers to harness. Service users are twice as likely to head to their local convenience store as they are to visit a supermarket with that objective, and roughly 5% of all convenience store shoppers are on a service mission, according to him! Convenience Tracking Program research.
This highlights the opportunity available to service providers looking to optimise their payment channels, particularly when looking to older demographics. Increasing use of technology like RFID and NFC will only accelerate the opportunities in the convenience sector, and service providers should be well placed to make the most of this.
At PayPoint we don’t stop looking beyond the current state of affairs in the payments sector. We are proud of our proven track record as a provider of innovative payment solutions, enabling utility companies and service providers to benefit from technological and service improvements.
It is imperative to keep pace with change in the payments landscape to maintain a close connection with customers by providing them with simple solutions. PayPoint has proven itself a trusted partner in terms of delivering consultancy and support to service providers for over 20 years.
From bill payments to transport, TV licenses to parking, PayPoint’s services provision cover the key aspects of life that keep things moving. To support this, there should be a flexible and accommodating multi-channel payments solution to ensure quick and reliable payment for service providers. Incorporating in-store, online, app, phone, and mobile, MultiPay is key to ensuring that service providers can receive payments promptly and reliably, while also providing the payment channels that customers want.
The emergence of smart meters in the utilities sector is another opportunity for service providers to weave smart payment solutions into their organisation, particularly taking advantage of the Internet of Things and connected technologies. Through MultiPay, PayPoint provides a fully integrated payments platform to allow retailers to offer their customers energy account management via mobile app and website. This gives them a holistic view of all payments across all channels linked to their consumption history, putting them in full control.
Convenience retail will, for the foreseeable future be a central pillar to service providers and the facilitation of quick and efficient payments, and we are committed to helping providers with solutions that make sense for both providers and consumers.
The landscape is developing quickly, however, and the rise of demand for multi-channel payment solutions is one that service providers must heed. Providing they do, there is a fantastic opportunity to deliver even better services and streamline payments processes, benefiting all involved.
For more information about PayPoint, visit: https://www.paypoint.co.uk
(A Retail Times’ sponsored article)