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Retailers need to do more to get consumer buy-in for contactless payment

Mark Hale, KPMG’s Head of Payments comments on the latest trend.

GENERAL MERCHANDISE

Retailers need to do more to get consumer buy-in for contactless payment

Mark says,"With contactless payments in the news because of some customers being inadvertently charged twice for shop-bought purchases and recently released data suggesting consumers are more aware of contactless payment technology. 

"Customers want a quick, pain-free, experience at the tills but recent history suggests that the reality is far different.  They see contactless terminals lost on the counter space and, in my experience, usually require staff intervention to ensure transactions go through.  The end result is a poor experience and without concerted action, consumer cynicism about contactless cards will set in.  

“Consumers are nervous, believing that the technology is unreliable, at best, and unsafe, at worst.  It’s a scenario that will continue to play out’ unless merchants develop a clear collections strategy, a simple and trustworthy payments process, and staff who are trained in both.

“In a society dominated by hyper-connectivity, customers are demanding instantaneous transactional information, together with the ability to speed up the payment process.  Where ‘pay as you go’ once meant payment for short-term expenditure, it is taking on a new meaning now as customers want to ‘pay on the move’.  Near field communication offers exactly this, but unless it is implemented correctly and glitches in the system are ironed out, the benefits of the technology will be lost and displaced by movement in the mobile marketplace.”

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Register now for the Retail Bulletin's Retail Payments Summit, 19th June 2013 to learn more about seamless customer payment strategies.

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