Mobile Payment Boosts Profits

Customers prefer convenience at the curb.

What’s more convenient: paying for takeout by phone, or paying at the curb? From an outside perspective, the difference may seem trivial—a sale is a sale—but from the customer’s point of view, the two experiences are night and day. By the numbers: A survey of 202 retailers and their customers* found online/mobile payment delivers:

• Enhanced customer satisfaction: 70% of retailers who offered an online/mobile payment option enjoyed higher customer experience ratings than those offering curbside pay alone.
• Enhanced profit: 69% reported higher per transaction margins with online/mobile pay options.
• Lower staffing costs: Mobile pay facilitates grab-and-go. Retailers with an online/mobile option had 42% smaller staffing levels than curbside-only operations.
• Enhanced customer lifetime value: Customers paying through online/mobile are a massive 315% more likely to sign up for loyalty programs.
• More “net promoters”: Customers are also 207% more likely to tell someone they know about their buying experience with online/mobile payment versus curbside payment.

Kick curbside to the curb: It’s no longer enough to just offer curbside service. The trend is moving toward online/mobile payment paired with curbside pickup. TimePayment can help dealers build a better sales experience that attracts more customers to today’s technologies. On your side: TimePayment helps POS retailers say “Yes” to more customers, by offering best-in-class equipment lease financing, industry-leading technology, access to API, and superior account service, training, and back-office support. TimePayment has helped over one million customers with transactions from $500 to $1.5MM+, and POS retailers rely on us for the speed, convenience, and technology solutions they need to grow.   *2022/2023 Sawbux Greenwich Study of Commercial Finance Decision Makers