C-stores are expanding mobile and contactless payment options for customers in 2023 as they look to stay at the forefront of electronic payment innovation.
“Currently, we are witnessing a rise in contactless payments and biometric technology in the c-store industry,” said Suraz Kayastha, information officer for Quick Track, which operates more than 114 stores across several states. “Consumers are demanding a fast, secure and flexible payment option, and these technologies are fulfilling that need.”
What’s more, customers want the option to pay in-store or online using their preferred method, he added.
Perry Kramer, managing partner at Retail Consulting Partners, agreed that the use of tap and contactless technology is growing as a preferred payment method.
“This is becoming a must-have for speeding up the checkout process at the point of sale (POS),” he said.
Quick Track works to offer a “seamless and hassle-free” payment experience with a range of electronic payment options, including mobile wallets like Apple Pay and Google Pay, self-checkout, and delivery services that accept mobile payments.
“Our partnership with leading fuel companies enables us to accept different forms of payment, making it easier for our customers to purchase fuel,” Kayastha added. “Our ultimate goal is to simplify the checkout process for our customers, providing them with a frictionless experience.”
Integrating Payment Capabilities
Some 72% of retailers accept some type of near field communication (NFC) payment today, Kramer noted.
“However, approximately half of them indicate that they have an opportunity to improve the NFC process,” he said.
Kramer added that Apple Pay and Samsung Pay have both grown as accepted tenders over the last few years. More than 70% of retailers accept at least one of them.
In 2023, Quick Track plans to introduce a new in-app payment system that will enable customers to pay for fuel directly from the app at the pump, providing a secure and convenient payment experience without the need for retailer hardware.
“I think it’s important to note that in this digital-first world, security and privacy are of utmost importance,” Kayastha said. “At Quick Track, we understand this and have implemented measures to ensure the protection of our customers’ data.”
Integrating payment capabilities into mobile apps and websites to allow customers to order ahead represents a second area of growth for c-stores, Kramer pointed out.
“C-stores will want to continue to focus on best practices in this area to minimize fraud, chargebacks and interchange rates, as well as storing a customer profile to reduce friction and transaction time,” he said.
“To reduce labor, increase customer satisfaction and increase loyalty, retailers need to focus on continuing to make the checkout faster and frictionless,” Kramer said. “This includes finding the right mix of contactless payments, self-service, self-checkout and enabling great payment experiences in their order-ahead applications.”