Nowadays, consumers believe shopping is supposed to be easy and simple, and should take as little of their time as possible. This demand is now being fulfilled by retailers like you through scan and pay technology, which enables your customers to complete transactions using their smartphones or NFC-enabled devices.
These systems are becoming a popular option for businesses like yours that seek to improve customer satisfaction as the demand for contactless and fast payment solutions continues to grow.
In this blog post, we will have a look at how scan and pay can enhance customer satisfaction & loyalty as well as serve the purpose of future-proofing your retail business.
The Growing Demand for scan and pay technology
The rise in popularity of scan and pay systems is largely due to the increasing need for contact-free payment methods following the impact of the COVID-19 outbreak.
Consumers have embraced the practice of using their smartphones to scan QR codes or tap NFC cards for safer transactions. This innovation not only enhances convenience but also tackles any concerns regarding hygiene stemming from the pandemic’s aftermath.
Numerous studies and reports have shown how retailers and their customers around the world are increasingly leaning towards using this technology.
Let’s look at a few statistics from highly reliable sources that show the rise of scan and pay technology, particularly in the retail sector:
- In September 2022, Juniper Research reported that by 2027, global contactless payment transaction value is expected to surpass $10 Trillion.
- A 2023 report by PYMNTS revealed that 31.5% of UK retailers plan to add support for scan-and-go payments in the next three years.
- A 2022 report from consulting firm RBR stated that mobile self-scanning systems will grow at 23% CAGR by 2027.
The growing popularity of scan and pay systems is evident in the above stats. Retailers like you who adopt this technology are much better positioned to meet the demands of today’s tech-savvy consumers who prioritise speed, convenience, and security in their transactions.
How can scan and pay systems enhance customer satisfaction
Faster checkout experience
One major benefit of scan and pay systems is that they enable retailers like you to eliminate queues at the checkout counter. You can speed up transactions significantly by enabling customers to scan items and complete payments from their smartphones.
Contactless transactions like QR codes or NFC payments are much quicker than conventional payment methods. The decrease in waiting time results in a shopping experience that increases the likelihood of customers coming back for more shopping trips.
Convenience and Ease of Use
The ease of use is among the big reasons why scan and pay apps are increasingly being adopted. Your customers only need a smartphone or any near-field communication (NFC) device to scan a QR code and make the purchase.
It is simple and less time-consuming, plus it also eliminates the use of cash or cards. An easy and convenient experience is something that many users look forward to in their transactions.
Moreover, scan to pay solution is integrated with the existing mobile wallets. Hence, the entire shopping journey is even more seamless for your customers. Retailers like you who offer such convenience can certainly get higher customer engagement and retention.
Increased Payment Security
Security is always among the most crucial factors in financial transactions and scan and pay systems are well-equipped to handle it.
Technologies such as tokenization and encryption are used in scan and pay solutions to ensure that your customer’s payment information is never exposed. The transaction and payment details of the customer are replaced with unique identifiers (tokens) to minimize any chances of fraud.
With this increased security, you can guarantee your customers secure payments. Doing so will build trust between you and your customers, which means they are more likely to stay loyal.
Health and Hygiene Benefits
You can’t deny that, after the COVID-19 pandemic, health and hygiene have remained a concern for many of your customers.
Scan and pay systems are the best solution for health-conscious shoppers, as it does not require any physical contact while making the payment. Your customers need not handle cash, touch a POS terminal, or interact physically with your staff to make their purchases. This method of payment results in minimum physical contact, thereby creating a safe shopping environment.
Retailers like you who prioritize hygiene through these technologies are likely to attract more customers.
The impact of scan and pay systems on retailer-customer relationships
Customer loyalty
Providing a faster and more convenient checkout experience helps retailers like you build customer loyalty. When transactions are quick and seamless, your customers will have a pleasant experience and are more likely to return.
Scan and pay offers just that as a solution to retailers like you who want their customers to experience a frictionless journey while shopping.
Personalised experience
Another unique aspect of scan and pay technology is that it allows you to personalise your customers’ shopping experience. You can combine these systems with loyalty programs to provide your customers with tailored deals and offers according to their buying behaviours.
For example, a shopper strolling the aisles of your shop could get a notification on their device of a unique offer for an item comparable to others in their cart, stimulating a supplementary sale. By understanding your shoppers well, you can both please them and strengthen your relationship with them, leading to return visits and increased revenue.
Fostering positive brand perception
Many retailers like you have embraced innovations like scan and pay solutions with contactless payment systems. Adopting tools that streamline the shopping experience shows your customers that their satisfaction is your top priority.
Scan and pay options allow busy shoppers to check out quickly without waiting in long lines. For businesses like yours, investments in providing convenience build customer loyalty as it demonstrates that you care for people’s busy lives.
Today’s consumers appreciate businesses that solve problems through ingenuity. Retailers like you who make shopping easy position their name as a leader addressing modern demands.
Conclusion
Scan and pay technology is revolutionising the retail industry by offering customers a faster, more convenient, and more secure method for completing transactions.
As consumer demands continue to evolve rapidly, retailers like you can embrace scan and pay technology and satisfy the desire for seamless, convenient, and safe shopping experiences.
