Some describes the payment component of a customer’s retail experience as the “biggest hassle”, saying the key is for businesses is to make the process “smoother” by enabling customers to pay in a seamless manner.

“The fact you don’t even have to get your wallet out of your pocket to pay anymore offers a completely different experience at the pay point,” he says. 

“But I don’t think going cashless offers a competitive advantage because for now, it’s the total experience that’s a real differentiator. It’s also about having a good product and service.”

Cashless technology does offer some additional benefits though, such as the fact certain systems can recognise returning customers so businesses can offer a more personal service.

“One of the perks is that if you pay by card some systems can actually recognise that the customer has [shopped with a store] before and therefore you can give that person a really tailored experience,” Rouwenhorst says.

“A lot of it is driven by mentality. We see other markets where the cash society is very present. Though, consumer behaviour is driven by many other things other than just having your card in your pocket.”

Sourced through Scoop.it from: www.marketingweek.com