Omni-channel Payments - what retailers need to know
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Presentation to 2013 Cards & Payments Conference. What our customers are asking for. Quant research indicating key shopper needs are (1) link payments and loyalty cards (2) make m-commerce less hassle Qual research indicating little interest in many new payment ideas
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Omni-channel Payments - what retailers need to know
- 1. Omni-channel payments in retail Geoffrey Barraclough Cards & Payments Conference July 2013
- 3. Payment innovation often driven by necessity 1 650BC Coins 2500BC Gold bars 1659AD Cheques 960AD Banknotes 1 1855 Fully printed notes 1694 UK banknotes £1 1968 BACS 1951 Diners Club D 1987 Debit cards 1966 UK credit card UK 2003 Chip & PIN 1997 e-banking & mobile payments 2007 Contactless 2008 Faster Payments Debit cards achieved 50% penetration in 5 years Cash machines achieved 50% penetration in 16 years
- 4. Retail is changing but transactions remain at the heart Store Mobile Social Field Force Transactions
- 5. What are retailers asking about? Invest in Contactless? Make refunds across channels? How do I get cost-effective data security? Make payments cheaper Reducing scope of PCI? What about loyalty schemes? Should I worry about digital wallets? Take payments on the move?
- 7. Contactless growing for low ATV/high throughput Value of contactless transactions £30,000,000 WorldPay £25,000,000 £20,000,000 Total UK Market Olympic marketing £15,000,000 £10,000,000 £5,000,000 £0 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13
- 9. New technology is pervasive but not ubiquitous Which of the following do you use nowadays on a regular basis, i.e. at least once a month? 69% of women use Facebook, compared to 52% of men
- 10. Loyalty is ubiquitous… Which of the following do you use regularly (once a month)? 68% 13% 6% 4% 59% 13% 5% 4% Only 9% Do not use a loyalty card regularly 48% 9% 5% 4% 21% 8% 4% 3%
- 11. …increasingly linked to payments…. Which of the following cash do you use at least once a month? 16% 8% 2% 15% 8% 2% 11% 3% Cash back on debit card Cash back on credit card 56% do not use any of these schemes regularly (e.g. once a month)
- 12. …..and open to digitisation Agreeing it is very convenient to receive vouchers in the following ways 53% 48% 44% 16% At the till on paper/card By post By email By searching online 12% 10% 5% By text Through an App Using a QR code
- 13. Interest in future payments in isolation is negligible I would like to use Nice to have 18% 9% 8% 6% 6% 6% 31% An online wallet where you can store cards a smartphone (e.g. Google Wallet) 5% 20% Chirpify 2% 10% Fingerprint, Iris scanner Using your smartphone to make payments but still with a PIN Using your smartphone to make contactless payments to £20 Supermarket poster in railway station to scan for later deliveries/pick up SMS payments e.g. Pingit Would not store loyalty cards 21% 21% 21% 17% 21%
- 14. Attitudes to new payment systems Consumer attitudes to new payment systems Well designed payment application - consumer perception Good, gimmicky High effort Irregular transaction Polarising, Good v freaky Hassle-free Great - safety Strong consumer need Weak consumer need Do I need this? Complicated, high effort Less well designed payment application - consumer perception Too easy, insecure
- 15. Omni-channel payments in retail Geoffrey Barraclough Cards & Payments Conference July 2013
Editor's Notes
- imperative of omni-channel reconfiguring of the store’s role within the omni-channel propositionmaking the most of mobile (in-store and m-commerce)customer intimacy as the only alternative to price as a competitive weaponmaximise sales to global shopppersuncertainty – nobody has the answers to what happens nextsuppliers – need flexible experts, future proofed
- How can I choose the right payment type for each new country?Do I need to accept Union Pay?What’s the best Tax Free Shopping service?Can I have a single payment service that works across all channels?How do I block the fraudsters without annoying my customers?What about tokenisation?Make reconciliations easier.How to I take money when my till becomes an iPad?How can I make it easy for my customers to buy with a mobile?Is my payment infrastructure really future proof?Can you make PCI painless?Should I implement contactless?
- Question 6SmartPhoneUsers/NonSmPhoneUsers I don't use any of these regularly 51% 65%Cash back on your debit card or bank account 18% 14%Cash back on your credit card 15% 15%Groupon 15% 5% Quidco 12% 5% TopCash 11% 5%VoucherCloud 6% 0%Wowcher 3% 1% Travelzoo 2% 1%
- Q8