Preparing The Business Case >>

Benefit Identification

4. Improved Customer Relationship

>> Management Information

A move towards an increased proportion of card payments will stand to increase the management information available to retailers. Unlike cash transactions, which provide no consumer data, Contactless payment can provide retailers with customer information.

As well as end-of-day terminal information – acquirers will normally be able to provide electronic information for analysis, which will help in both monitoring and understanding business income. The transaction data captured for Contactless payments can potentially provide insight on customer behaviour to feed into business decisions and sales strategies, which can result in benefits in terms of customer loyalty and repeat business.

In addition, an improvement in customer information can be achieved through the use of loyalty schemes supported by Contactless. Acquirers will be able to provide further information on the options available for both loyalty schemes and the provision of management information more generally.

>> Competitive Differentiation

The implementation of Contactless, especially as an early adopter, will provide the customer with an enhanced perception of the retailer in terms of innovation and provide competitive differentiation. The competitive differentiation and convenience of the payment method offered can attract new customers and therefore increase transaction volumes.

>> Customer Service

The speed of transaction, the reduction of queues and the provision of an innovative service all improve the customer experience. In addition, the reduction in processing time for retail staff could mean that they have more time available to dedicate to customer service.

>> Wider Benefits of Accepting Cards

For those who are new to cards there are of course a number of benefits not specific to Contactless but that relate to the acceptance of card payments more generally. Further information can be found on Participants' Sites.