More than 35 percent of Americans use an Android device, and with increasing concerns over security and convenience, more consumers are beginning to use mobile wallets to store their payment methods on the go. A great frustration among shoppers, however, is that not every store accepts mobile payments, which results in an inconsistent guest experience across brands. In addition, consumers are being inundated with messages from brands that are constantly vying for their attention—and weighing down their keychains with loyalty cards.
“A unified, seamless payment platform adds up to a better user experience, and hence provides a better opportunity for everybody, consumer and merchant alike,” says Sundar Pichai, CEO of Google.
Mobile payment options such as Google Pay provide a consolidated customer experience, linking payment methods, gift cards, reward programs, and special offers together in one place. This fully integrated system improves the guest experience, which ultimately benefits the merchant by increasing customer engagement. Offer redemption and program participation, for example, increases among mobile payment platform users, because the application pushes geo-based notifications to consumers when they’re in close proximity to a brand location —reminding them to redeem a discounted menu item or take advantage of a limited-time offer.
“Brands like Walgreens and Panera have seen a 64-percent lift in offer redemption and a 15-percent lift in loyalty card engagement, using mobile payment platforms,” says Parag Ladhawala, chartered financial analyst for global business development at Google.
Merchants can also use Google Pay to create customized messaging which targets guests based on prior transactions and behaviors.
“If a brand doesn’t have an app, or doesn’t have a loyalty program, they can still take advantage of having real estate within the Google Pay application,” Ladhawala says. “Users can receive special offers based on their location or their behavior and that can help drive customer traffic.”
Ensuring a seamless customer experience is critical for restaurants hoping to attract guests back and keep them engaged. Enabling mobile payment options at checkout is an important way to optimize the guest experience, but also provides merchants with an opportunity to send targeted and consistent messaging to consumers—without associated fees.
“There is no charge for merchants to enable Google Pay,” Ladhawala says. “They simply need to enable NFC tap capabilities so that card readers can communicate with smartphones and mobile devices at checkout. In most cases, this reduces checkout time by 50-60 percent, meaning merchants can serve more customers quickly and efficiently.”
Enhancing commerce in the physical world is an important means of creating customer ease and satisfaction and nurturing trust. Implementing mobile payment options allows restaurants to stand out in a crowded marketplace by providing guests with a more personalized and frictionless transaction experience.
For more information on how you can get started with Google Pay, check out our recent webinar, in partnership with Paytronix.