Android Payment Technology Empowers Merchants to Deliver In-Demand Customer Experiences
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Enhancing customer experiences is a top priority for merchants. Research by Propel Software found 54% of consumers will stop doing business with a brand after just one bad experience. However, what defines a good experience has evolved rapidly since the beginning of the decade, sending merchants in search of innovative solutions.
Consumers have adopted omnichannel processes, using a combination of digital and physical channels to create fast, convenient, and personalized shopping journeys. As shoppers grew more comfortable with digital channels, their expectations for brick-and-mortar shopping changed. They want more visibility into inventory availability, their loyalty rewards accounts, and other data they can easily access online. They also expect promotions and service tailored to their needs and wants, which is difficult (if not impossible) to provide with legacy technology.
As a result, merchants are looking for ways to meet evolving consumer demands and stay relevant in rapidly changing markets. To bridge the gap between digital and physical experiences, merchants need an open, flexible solution that removes barriers to creating new experiences. Merchants need Android payment technology.
Why Merchants Are Transitioning to Android Payment Devices
Ingenico data confirms the trend toward Android, with these devices claiming 33% of market share in 2022 and an anticipated 54% by 2027. Two important factors driving the transition are Android’s ability to support:
Versatility
Android allows merchants to integrate a variety of business applications with their payment terminals as well as issue and accept gift cards, allow consumers to pay with digital wallets, use QR codes or palm vein scans to pay, and more. Android enables merchants to craft experiences to suit a range of preferences and differentiate their businesses in their markets.
Growing Revenues
Android allows merchants to deploy solutions that improve engagement. They can manage discount programs, offer loyalty rewards, and analyze data for personalized engagements, all from an Android terminal. Merchants can use these capabilities to increase customer satisfaction and loyalty, which leads to higher customer lifetime value and growing revenues.
Real-World Examples of the Benefits of Android Applications
Android’s ability to take customer engagements to new levels is more than theory. It’s working for merchants today. For example, Android applications available from Ingenico partners include:
- Gift Card Solutions
The majority of Canadians – 87% -- buy gift cards or give them to others. Furthermore, the market is set to grow at an 8.6% compound annual growth rate (CAGR) from 2022 to 2026 to reach over CAD 11.9 billion. Digital gift cards are a significant growth driver.
Diggecard allows merchants to sell gift cards, with online and in-store processing, payment, and redemption solutions. Diggecard also provides sales analysis and reporting to help merchants increase sales, engage new customers, and raise brand awareness.
- Loyalty Solutions
Givex’s 2023 Consumer Survey found 57% of Canadians are members of between two and four loyalty programs, and 20% are members of at least five loyalty programs. Merchants can meet the demand easily with a solution they can implement directly from their payment terminals.
Izicap offers a card-linked customer relationship management (CRM) and loyalty platform that provides merchants with a data-driven, effective marketing solution. Consumers can quickly enroll in the program from an Ingenico device, and the program is automated to save merchants time.
- Buy Now Pay Later (BNPL) Services
Buy Now Pay Later use is also growing. The Canadian market is set to grow by an 11% CAGR from 2023 to 2028 to reach more than CAD 21 billion.
With Splitit’s solution, consumers can use a BNPL option at the in-store checkout. The one-step installment solution is frictionless, allowing customers to use existing credit and still earn credit card rewards. Customers can choose between two and 12 installments, with the first on the day of purchase.
Android Makes It Possible
With the freedom to create a wide range of applications that can run on the payment terminal, Android developers help merchants expand their in-store digital capabilities and engineer experiences that meet the expectations of today’s consumers, drive loyalty, and increase sales.
Learn more about how the payment terminal can be the center for revenue growth in your business.
