For those that are involved in the payments industry it is so easy to get lost in the technicalities of the solution that we forget some very basic principles:
- Customers do not jump out of bed in the morning saying “goodie, goodie, I am going to make payments today!”
- What they want is a frictionless hassle-free experience.
- What they want is trust in the system that it is going to work.
- They want protection that should someone get hold of their cards and or device, they cannot go on an unauthorised spending spree.
The added protection of PIN to authorise payments builds trust and confidence. It is only people in the payments /banking space that raise the question about customer reluctance to put their PIN on a merchant’s mobile device.
WIZZIT has been testing the Tap-on-Phone product for many months, getting data on customer experience, and we have not had a reported incidence of a single customer (not involved in the payments/banking space) who has as much as raised an eyebrow when asked to put in their PIN on the merchant’s device to approve and authorise a transaction.
One special occasion and events company reported that customers actually had fun using the Tap-on-Phone technology. The other frequently raised question is whether merchants will embrace the acceptance of digital payments.
Three critical factors here:
- safety in a reduction of cash on-premise;
- an ability to enter the eCommerce world;
- and the ability to build a track record that will enable access to affordable loans to grow the merchant’s business.
The Key is the ease of merchant onboarding where speed and a hassle-free experience are key.
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