Past Payment Options Primary formsCash of payment through the 90’s with creditCheck card being just over 50% ofCredit Cards tender mixDebit Cards Started to grow in acceptance at specialtyPrivate Label retailers in the early 2000’sCredit Cards
Audience Question Are there any retailers (or bankers that know of retailers) that do not take checks? If so, what have been the results of this action?
Current Payment / AE Environment Due to age of target customer, attempt to stay in the forefront of emerging payment types and trends Have since expanded our payment tender options to also include the folllowing: PLCC / Co-Brand Visa PayPal (online) Google Wallet Bill Me Later Initiative to implement alternative payment methods online based on consumer’s country of origin Konbini (Japan) iDeal (Netherlands) Boleto (Brazil) Direct Debit (Europe)
Audience Questions • Does the availability more payment options increase revenue? • How does an organization know when youre offering too many payment options?
“Future” Payment Options: Google WalletStores Credit Cards, Loyalty Card & GiftCardsCurrently on Sprint Nexus S 4GUses Near Field Communications (NFC)Google will Promote Local “Deals” to GoogleWallet Users
“Future” Payment Options: PayPal for BusinessWebsite Payment IntegrationCredit Card Swipe Tool (Phone)Payments Are Deposited to PayPal AccountIntradayAutomatic Fraud Screening Service
“Future” Payment Options: ShopkickPhone app that uses positioning capabilities to determinecustomers location allowing them to “check in” at variousretailers and simultaneously earn “kickbucks” that can beredeemed for gift cardsOnce inside the store, customers earn additional“kickbucks” and are sent marketing promotions thru theapp.Greater “kickbucks” are earned by trying on clothes orbuying merchandise when app is linked with a credit cardApp can also be linked to Rewards Card programs toobtain greater benefits
Audience Questions • Are there any other solutions besides these three that people have knowledge / experience with? • Are any other companies or banks have experience with Google Wallet?
Potential “Future” Payment Benefits / ChallengesReduced Need for Check-out CounterBetter One-on-One Customer ServiceMore Opportunities to UpsellReduced “Showrooming”Use of Additional Retail Space
Audience Questions What other benefits / challenges can you envision with these new retail payment options?
Audience Question Please feel free to email questions to: MontagueB@ae.com and/or Dan@TreaSolution.com Thank You!