Interview • 11.05.2020

Contactless? Cross-channel? Consumer-friendly?

Things to look for in a payment solution

Man in white shirt and dark sack
Source: Wirecard

Whether it’s e-commerce, point of sale, or mobile payment: we have to pay for our purchase. But what do customers want and expect from a payment solution? How can retailers meet these expectations and are self-checkouts really a faster option than standing in line?

Find out in this interview with Alexander Hahn, Vice President POS Retail Solutions, Wirecard Global Sales GmbH.

Mr. Hahn, what are the top - online and offline – payment trends?

Alexander Hahn: You have to look at this question from a consumer and a retailer perspective. Here is the consumer’s point of view: Cash is still king for European and especially German customers, though our love of plastic is also unbroken and going strong. However, our money habits are changing. NFC technology powers contactless payments, making them increasingly popular in the process. What’s nice here is that we simply hold our credit card or smartphone near a payment terminal to pay and don’t have to hand anything over to a cashier. This option has truly boosted the mobile payment segment.

It also forces retailers to take a more customer-centric approach. There is an ongoing rethinking process as customer expectations are changing. Consumers appreciate it if a cashier can also deliver stellar customer service on the sales floor. It boils down to multi-channel inventory shop management, which combines the checkout system with the retailer's product catalog – a cloud-based checkout system, so to speak.

How does Wirecard support retailers in times of digitization?

We offer over 55 payment methods serving online, POS, and mobile payment settings. We aim to offer retailers an ecosystem that’s international, one-stop, and across all channels pertaining to services and products. Recently, we have also become a credit card issuer and are licensed to issue our own credit cards. This means if retailers want their own credit card with a custom design, Wirecard can accommodate them and issue the card to the retailer's customers.

Contactless payment by smartphone with NFC
Source: PantherMedia / Ronalds Stikans

A custom design is a nice feature, but how does it benefit retailers to have their own credit card?

First, there are practical benefits for retailers: We are principal members and can supply card acceptance contracts. We also support all popular payment methods. Besides Visa and MasterCard, we hold acquiring/licensing contracts with American Express, JCB, Diners Club, and UnionPay. Retailers can also track when and where the card is being used.

The card can also be combined with loyalty programs, which provide incentives for loyal customers and drive customer acquisition: earn points, redeem coupons ...

Venturing into the future, will digitization cause traditional cash registers to vanish from retail stores?

I don’t think so. It pays to consider short-term, medium-term, and long-term developments. Consumer behavior won’t change drastically in the short term. That’s because consumers in Europe tend to be more conservative: “Old habits die hard," as the saying goes. Having said that, retailers should embrace alternative methods in the medium term: retail self-checkouts are increasingly popular due to perceived time savings and by allowing customers to take an active role. What’s funny is that this method isn’t actually faster than standing in line. It only feels that way because you are busy doing things. Scanning items yourself appeals to your sense of play, making the process seem to go faster. Checking out at individual department checkout points will also become more important. It goes along with extensive services and customer support as this is the perfect opportunity for retailers to cross-sell and send the customer home with a bigger shopping bag. Using the 20 minutes they might have to wait at the cash register, associates can offer the shirt a customer has picked in a different color. It's a way for retailers to provide more value to customers and serve them more in quality in the long term.

Interview: Katja Laska

related articles:

popular articles:

Thumbnail-Photo: “Dear shopping cart, please show me the way!“...
06.07.2020   #self-checkout systems #scanner

“Dear shopping cart, please show me the way!“

Shopping Cart 2.0 – gimmick or idea with intrinsic value?

Not all shopping carts are the same... far from it! Digitization and automation also put their stamp on this aspect of the retail sector. What’s usually a plain, large basket on wheels that makes it easier for shoppers to transport products ...

Thumbnail-Photo: Hobbii continues the growth adventure …
23.06.2020   #POS systems #brick and mortar retail

Hobbii continues the growth adventure …

… with new stores and several digital initiatives

The online store Hobbii.dk continues the opening of physical stores with the launch the third store in Tarup shopping center in Odense, Denmark. The close collaboration with Delfi Technologies, which is based on several digital initiatives, will ...

Thumbnail-Photo: Payment and retail - what happens after the crisis?...
09.07.2020   #brick and mortar retail #payment systems

Payment and retail - what happens after the crisis?

Interview with Christine Bauer from CCV

We ask Christine Bauer, Vice President International Sales of the payment service provider CCV, which has been firmly established in Germany for 25 years and internationally for 60 years.Mrs Bauer, CCV has been on the market for a very long time, ...

Thumbnail-Photo: Automated delivery services sprang up during China’s Covid-19 lockdown...
03.06.2020   #coronavirus #delivery

Automated delivery services sprang up during China’s Covid-19 lockdown

Retail technologies at Smart Retail Expo (SRE 2020)

In response to the Covid-19 outbreak, China’s retail giants JD.com and Meituan both deployed their smart deliver robots/vehicles in heavily locked down cities, such as Wuhan and Beijing. Insiders believe automated delivery technology will be ...

Thumbnail-Photo: World’s first convenience store retrofitted with AI technology...
14.08.2020   #video surveillance #video cameras

World’s first convenience store retrofitted with AI technology

Standard Cognition to provide Circle K with autonomous checkout

Standard (“Standard Cognition”) announced that Alimentation Couche-Tard, a company that operates close to 14,500 convenience stores worldwide, including under the global brand Circle K, has selected Standard to pilot touchless, ...

Thumbnail-Photo: Interface for quick serial emulation and enhanced mPOS integration...
26.06.2020   #POS systems #software applications

Interface for quick serial emulation and enhanced mPOS integration

APG expands mobile interface portfolio to enhance connectivity options at the point of sale

APG Cash Drawer, a fast-growing global manufacturer of cash management solutions, announced today the release of a new USB interface option: the 485 USBProLite™ USB to Serial Emulation Interface. This interface solution extends the ...

Thumbnail-Photo: Digital access controls support distancing requirements in the era of...
06.07.2020   #brick and mortar retail #retail

Digital access controls support distancing requirements in the era of Corona

Essential staff are relieved and the risk of infection is reduced

Since the beginning of the pandemic, larger supermarkets and discounters have been imposing entrance restrictions to ensure that only a certain number of people are allowed within their Stores. Usually the access management is carried out by ...

Thumbnail-Photo: Disposition and shelf maintenance in times of Corona...
19.08.2020   #POS marketing #shop equipment

Disposition and shelf maintenance in times of Corona

Tools for shelf management

The CPG industry is currently experiencing turbulent times just as much as retail. Challenges such as the ban on field sales force visits or the sudden increase in demand for some articles, which leads to gaps in the shelf and loss of sales, are ...

Thumbnail-Photo: SPAR grocery store embraces new technologies...
23.09.2020   #digitization #app

SPAR grocery store embraces new technologies

The store has implemented Delfi Technologies' cloud solution and mobile app to manage the store's electronic price tags

This year, the co-operative association Tikøb could celebrate its 100th anniversary. Today, the SPAR grocery store in Tikøb is one of the stores in the chain that is at the forefront when it comes to implementing new technology. Most ...

Thumbnail-Photo: CCV announces consolidation of its international payment division,...
02.07.2020   #mobile payment #payment systems

CCV announces consolidation of its international payment division, focuses on market innovations

Under the flagship of CCV GmbH, the company plans to bring its innovation into specific international markets

CCV Group B.V. has announced that all of its international business activities will now be consolidated and run within its Germany-based division - CCV GmbH. CCV GmbH will carry out the activities of the former CCV Deutschland GmbH and CCV Easy, a ...

Supplier

APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal
Apostore GmbH
Apostore GmbH
Uferstraße 10
45881 Gelsenkirchen
POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen
Poindus HQ - Taiwan
Poindus HQ - Taiwan
5F., No.59, Ln. 77, Xing-Ai Rd.,Neihu Dist.
Taipei City 114
Reflexis Systems GmbH
Reflexis Systems GmbH
Kokkolastr. 5-7
40882 Ratingen
Adasys GmbH – a Poindus Company
Adasys GmbH – a Poindus Company
Max-Planck-Straße 10
70806 Kornwestheim
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
CCV GmbH
CCV GmbH
Gewerbering 1
84072 Au i.d.Hallertau
Axis Communications GmbH
Axis Communications GmbH
Adalperostraße 86
85737 Ismaning