Cash is no longer king!
“We will see a big evolution in 2016 around mobile payment,”
“The cashless payment journey has only just begun and our focus now is to engage and partner with businesses of all sizes to build propositions that will serve their customers and increase the appeal of Visa payments – making life a touch easier”. Philip Koponik, Ireland mgr, Visa Europe.
Mobile payment statistics:
- In the first two months of launching their order and payment app Starbucks had over 20 percent as mobile payments.
- Alipay processed 175 million transactions a day, of which more than 60 percent were made through a mobile device.
- Figures from Visa Europe 2012 show transactions via card as low as €1 in every €7 this has jumped to €1 in every €3 in 2016.
- Contactless payments now account for one in every seven Visa card transaction, with two contactless payments a second transacted across the country.
- The number of consumers regularly using a mobile device to make payments has tripled in the past year, according to Visa’s 2016 Digital Payments Study.
These figures indicate an obvious increase in demand for mobile payments the customer experience.
While infrastructure roadblocks are delaying the availability of Apple Pay, Samsung Pay and Android Pay in Ireland at Girt we are currently in the final stages of making mobile payment and ordering a reality through our PAYFINCH and VENOO apps. Both of which seamlessly integrate into retailer’s existing POS/ management system.
This customer facing ordering/payment app provides the opportunity for customers to order and pay for items via mobile app.
After selecting your order through the app it sends the order to a staff member who receives it via Apple watch or tablet, confirms your order and you accept and pay. Your order is prepared and gets delivered to your table. Simple!
In the case of a busy bar, during peak times you may be prompted to collect an order via app collection point for which the app creates a password in order to identify customer.
Payfinch is a brand new ‘airborne’ payments system. Instead of having to rely on plastic and receipts, this payment system works entirely from your mobile phone bringing convenience to your finance. The Payfinch application is downloaded to your phone, registered and linked to your current or credit card account. You can then use your app to pay for goods and services ‘over the air’ and take advantage of any offers that may be available for Payfinch customers in the store.
The app will also allow you to keep a track of your spending and earn loyalty point as you spend.
With Payfinch you present the item you want to pay for at the counter, you receive a process payment message, hit the accept button and away you go.
- No Plastic
- No Receipts
- No Hassle
As the Payfinch system is entirely software based there is no need to upgrade your existing hardware. Our first product has been designed to work with the latest phones, tablets, notebooks and desktop systems linked to the internet. Your POS device will connect with the secure Payfinch server where customer’s details are retained for identification and payment processing.
The system will allow loyal customers to be rewarded just for stepping into the store with the retailer in full control of offers discounts and other loyalty schemes. As receipts are electronic in nature there is requirement for a printer or other related hardware.
With our Fortress7, seven point security system, we integrate the maximum level of security for your customers. We take pride in the fact that our applications are safe and secure. Not many people realise it but the mobile can be a safer place to carry out a financial transaction when compared to a desktop environment. This is because the device, network, IP address, Geolocation, and Biometrics can all be used as additional forms of authentication.
More on our security here: http://www.girtmobile.com/security/
BENEFITS BOTH RETAILER AND CUSTOMER
Improved Customer Experience
More convenient as it speeds up the customer’s experience via the transaction process and by eliminating queuing.
Retailer has new communication channel with customer to promote offers.
Retailer experiences increase in loyalty as customer experience is improved.
Customer alleviated of key ring full of cards.
Integrated with management system can provide insights which can help to predict what consumers want, which in turn can empower retailers to offer more relevant and meaningful offers.
Secure for both parties as retailer does not have to deal with large amount of cash on site.
Overall more convenient and secure way of ordering and paying for goods, leaving you with more free time!