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Tuesday 15 October 2019

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Payments Awards 2019

Shoppers demand online payment tech in-store

Written by Peter Walker
03/04/19

With queues remaining the biggest in-store issue for over half (53 per cent) of shoppers, a quarter (23 per cent) of consumers have demanded in-store payment technologies that replicate ‘one-click’ online checkout.

This is according to a survey commissioned by RetailEXPO in January and carried out by OnePoll among 2,000 UK consumers.

Self-checkout or scan and go capabilities, where consumers automatically paid for scanned items as they leave the store, were the most popular alternatives that would improve customer experience for 52 per cent of shoppers.

Choice of payment methods also proved a key consideration, with 42 per cent of consumers now wanting retailers to accept mobile wallet options or digital currencies, such as Bitcoin.

But while appetite for new payment methods is growing, the affinity for card transactions isn’t shifting. Even if mobile payments were more widely accepted, 46 per cent of shoppers would still use bank cards.

The research suggested this may be due to ongoing security concerns around mobile payments, such as ApplePay or SamsungPay, with 61 per cent of respondents saying they are still worried about such fraud.

Matt Bradley, event director at RetailEXPO, commented: “Shoppers want speed and convenience at every touch point of the in-store journey – and nowhere is this more pronounced than at the checkout, where payment capabilities can make or break a frictionless shopping encounter.

“This means retailers need to offer as many transaction choices as possible that tick the boxes for the consumer in terms of speed, choice and confidence; having coaxed a shopper all the way to point of payment, they mustn’t risk losing a sale because a preferred transaction choice isn’t available.”


Retail Payments Survey

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