As bricks and mortar retailers know, for the savvy shoppers of today, offering several options for payment can be the difference between a sale and a walk-away. In a 2016 survey by WorldPay, 22% of UK shoppers under the age of 35 claimed that they had left a store without buying, specifically because the retailer didn’t offer their payment type of choice.
For pop-up retailers, who only have a temporary set-up in their location, it can seem like an unnecessary hassle to offer a variety of payment types as well as cash transactions. There can also be security concerns for customers about making payments to pop-ups because of their impermanence and anxiety about the unknown. However, offering a range of options needn’t be complicated or costly to implement.
To make sure you don’t miss out on potential business that might be put off by inflexibility of the payment types accepted, we’ve brought together four portable options that are easy to set up and use, and can offer secure payments to customers of pop-up businesses.
Contactless card payments
As of April 2017, there were more than 108 million contactless cards on issue across the UK. During that same month, over £3,900 million was spent, which was an increase of nearly 150% on the same period in 2016. These statistics show that contactless cards are still growing in popularity, and second to cash, should be a payment type offered by all pop-up retailers with a product range that fits under the £30 cap.
Standard Chip & Pin payments
Whilst many pop-up retailers take for granted that their customers will be tech savvy and fully trust mobile payment types, that’s certainly not the case for all demographics. According to a 2016 UK survey, around a third of all shoppers don’t trust contactless cards, particularly the middle-aged and elderly. Offering standard chip and pin payments through a card reader, which has been around significantly longer, means that you can not only offer quick and simple transactions to those who might be uneasy about using newer methods to pay, but you can also take payments of over £30 easily too.
Online payments via tablet device
Whilst tradition may dictate that customers pay at a fixed till for their purchase, technology means that this is no longer a stipulation. Some pop-ups find that taking the payment terminal to their customers, wherever they are in the retail space, results in more sales; or, even higher value transactions, as customers don’t spend time waiting in a queue, giving them time to change their minds about buying.
Using a tablet device, which can be secured with a mount to furniture or a wall for the duration of the pop-up, or secured to a sales assistant, who can offer portable advice or customer services assistance at the same time, means that customers can pay via a range of trusted online services, such as PayPal, WorldPay and SagePay, rather than using their credit or debit card directly. Whilst usually a slower way to take payment, the slightly longer process can help put those who are wary of other payment types at ease.
NFC smartphone payments (Apple Pay/Android Pay etc)
Using payment devices which accept NFC payments (in addition to contactless and standard chip & pin – all in one device) is a great way to offer customers even more flexibility in how they pay. The 2016 WorldPay survey showed that 75% of consumers trust retailers who deploy modern digital technologies more than those who don’t. If customers are able to instantly pay for their purchase with Apple Pay or Android Pay, for example, it provides another payment method which doesn’t require them to get out, or even have on them, their debit or credit card – great for impulse buys in any pop-up retail location.
The temporary nature of a pop-up retail space doesn’t mean that security of payment and tablet devices shouldn’t be taken seriously. In order to be PCI compliant, retailers must take measures to protect any devices used to take payments from tampering or theft. Using enclosures, mounts and MPoS solutions from Ergonomic Solutions can help pop-up retailers to accept a wide variety of payment types from their customers and manage all devices securely.