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Sep 30, 2022

Consumers Want Contactless Payments – adding, “Don’t Waste My Time”

Consumers Want Contactless Payments – adding, “Don’t Waste My Time”

Perhaps you missed this. 

In a great article, Why Contactless Payments Are Key To Delivering Memorable In-Location Experiences,” Forbes outlined more of the ongoing, developing story about contactless payments. They are here to stay.

But why is consumer movement to contactless payments such great news?..

Here’s why. Because it isn’t very often that an overwhelming percentage of consumers tell you exactly how they want to interact with your business – and do it so clearly and with reasoning that supports more profitability for you.

Say what you might about all the different forms of payment acceptance offered at car washes across the country – coins, tokens; loyalty, debit and credit cards; insert or swipe – consumers are overwhelmingly moving to touch-free preference. Acting on this clear signal is just good common sense for the car wash industry.

Common sense for car washes…

According to Forbes State of Contactless Payments Study for 2021:

  • Only about 3% of American debit and credit cards enabled contactless checkout in 2018.
  • Interestingly, at that time, up to 96% of South Korean cards enabled contactless payment!!
  • The National Retail Federation (NRF) summarized data from Mastercard showing 8 in 10 American shoppers are using contactless payments due to concerns over safety and cleanliness.

Most revealing – and simply brilliant – of everything stated in the article from a retailer perspective is that “whether you evaluate convenience by speed-of-checkout or by the total hassle that checking out requires, contactless payments are an upgrade over the old ways of checking out.”

Further, “Customers associate inconvenience with wasting their time” — understandably so. Consider what this says about stores that do not offer contactless checkout, which we know shoppers believe is a more convenient way to buy.”

And THAT is the real point of all this… 

When a retailer does not make it ‘easy to pay the way I want to pay’ it is clear communication about just how badly they want the business. Consumers see making a purchase ‘inconvenient’ as wasting their time – not the preferred way to be thought of by potential customers.

Facts indicate consumers will continue to prefer contactless payments even ‘after COVID’ threats are reduced. This means, contactless payments are here to stay.