The recent news that 2016 saw a higher volume of credit and debit card transactions than cash payments, as well as the rapid increase in the popularity of contactless payments, presents retailers with an opportunity to optimise the in-store environment to significantly reduce friction in the customer journey.
Contactless purchases now account for over30% of card transactions; in October 2015 this figure was just 10%. This spectacular growth in user adoption of contactless offers retailers the opportunity to fundamentally rethink how they manage the customer journey through their store.
Mobile technology is playing an increasingly important role in the in-store experience, with Qmatic’s latest research revealing that 19% of consumers are now comfortable making payments with their mobile phones, and using mobile checkouts. However, the research also reported that over half of consumers (53%) have never experienced any of this technology within British stores.
Vanessa Walmsley, Managing Director at Qmatic UK, explains: “The growth of contactless technology can provide significant benefits to retailers. A recent report from the Bank of England indicates that the ease of contactless technology may encourage consumers to spend more, increasing sales for retailers. Additionally, the speed of contactless transactions can reduce waiting times and friction points within the retail environment, creating…