Focus on Payment Systems
Payment Systems - the Debate is Over
The arguments and discussions about the future role of payment systems are done and dusted. That train has well and truly left the station: payment systems will be ever more important to vending, whether driven by card, contactless, mobile device, QR code or other innovations in end-user access-technology currently in the pipeline. It’s a certainty.
Nearly all our clients are on board, and enjoying the ride already - because they are banking the revenue from increased transactions overall, combined with an uplift in average value per customer-visit, as well as seeing increases in efficiency reducing costs.
Additionally, the improvements in data supply (in terms of quantity, quality, depth and speed) lead into better visibility - giving operators further choices how best to translate information- on-tap into the right levels of customer service per client/site.
At SBS, we do not advocate any one payment system provider over others. That is not our role. Instead we provide the best tools - Vendmanager, the vending management system - to integrate whatever our clients choose. And take full advantage of any features/functionality on hand from one or any provider - wherever the commercial case stands up.
Take Amazon SQS for example.
Amazon Simple Queue Service (SQS)
Amazon Simple Queue Service (SQS) is today’s go-to solution for intersystem communication. If you enjoy Netflix and the flexibility of watching films on various devices, picking up the movie again whenever you like, wherever you left off, you can thank SQS for that
Now we have further developed our very own Vendmanager, to bring all the benefits to vending where we can integrate payment systems via SQS. In brief:
- SQS is fast, reliable, secure and robust.
- Transactions are shown live in Vendmanager - you can monitor events in real time as they happen.
- Messages are stored on multiple servers - providing redundancy and availability.
- SQS scales economically, growing with you as payment systems continue to increase in volume and importance (and believe us, they will).
Amazon Simple Queue Service (SQS) is a fully managed message queuing service that allows our clients to adapt to current technology trends, to move with the times - if that is the best route for them.
Our commitment at SBS is to provide choice. Our job is to make our clients’ own choices achievable, to bring them within reach.
Integrating with SQS is another example of making it so.
Need for Speed?
Some time back, we at SBS foresaw the rapid acceleration of payment systems in vending, and in contactless especially. We spoke out loud and often to the sector about what lay ahead. We were amongst the first champions of the technology. After all, making value add innovation commercially viable is our bread-and-butter. It was our “duty” to do so.
The only mistake we made was in the speed of uptake. We said it would be “rapid”. We were wrong: it is growing even faster than we foresaw. And it’s happening now. Good.
Contactless in particular is booming. And is going to accelerate still further in Europe (in Asia especially, QR technology seems to be leap-frogging ahead):
- Associated costs (directly to the operator, but needing to be borne by all) are coming
down, and will continue to do so as the competition between providers plays out: the bar below which payment systems are self-funding continues to drop.
- User “acceptance” is transitioning to user “requirement”: you will loose sales if you don’t make it easy for end-clients to take advantage of their payment means of choice (watch out for consumers who don’t carry any cash at all nowadays - they’re on the increase).
- Increasingly there will be sites where there is no option but to provide alternatives to cash (and where right/required to remove the cash option altogether).
- Remember, this is not just about youth/metropolitan demographics (although they have spearheaded the breakthrough). Anyone who had the pleasure of attending the recent AVA Live event (thank you David Llewellyn and the whole team for all the hard work), will have seen that this appeals to all. The AVA event area was ringed by machines offering cashless only services and whirred all night as nearly every attendee (not all of them urban spring chickens) participated in the charity raffle. This is for everyone.
All of which underpins - for operators especially - the need for speed. There is a wide choice of payment system technology and suppliers on hand. And the time to accelerate your involvement is now - if not yesterday.
Published 21st August 2019
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