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Future of Retail — Payments Innovation
issue 02
sale systems and including more of what customers want, none of the current options on the market have taken into account a fundamental part of the shopping experience: receipts. This lack of forethought begs the question,
if customers are expected to carry out entire transactions using only their mobile device – because it’s more convenient – why should they still be expected to keep track of paper receipts? Mobile wallets need to prioritise digital receipts and include them as a basic utility in their solution. Doing so will play a key role in increasing customer adoption. AllReceipts™ from Star Micronics provides a
digital receipting service that fits the bill. With zero development required the service is enabled within the Star printer driver, works independently of your POS software and is totally managed by the retailer. Triggered by a traditional printed receipt, a digital copy of the receipt is sent to the AllReceipts App on the customer’s mobile with no email address or mobile number required. Receipts can only be claimed once and are then deleted, while saved receipts can be viewed by date or by retailer with personal or business tags on the customer’s device. Digital receipting eliminates the issues typically
associated with email receipting including the time taken to record email addresses and the potential problem that these could be taken down incorrectly. The immediate advantage perceived by the customer is the choice to remain anonymous and yet still receive a digital image of the receipt and coupon when offered.
WHY MOBILE WALLETS HAVEN’T TAKEN OFF Although mobile wallets are intended to make customers’ lives easier by providing a single place to digitally store all of their payment options, they still have considerable drawbacks. For instance, not all retailers accept digital wallets, or they only accept certain ones. Instead of facilitating customers’ lives, this prohibits customer adoption, as they are unlikely to want to download multiple solutions to “solve” a single problem. Until there is a guarantee that all retailers will accept mobile payments, customers are obligated to continue carrying physical wallets. In addition to a lack of universal acceptance
from retailers, mobile wallets also lack critical utility functions, further dissuading customers from using
them. Among these are not having the option to store photo identification, such as a driver’s license, the inability to link with banks and reward programmes (thus losing valuable reward points), and the inability to store all cards, from various institutions, in a single place. Most importantly, mobile wallets do not have digital
receipt solutions built into them. As it stands now, when using a mobile wallet, customers are provided only with a transactional verification, rather than an itemised receipt. If a shopper needs to return or exchange an item they have purchased, they are unable to do so with the digital payment verification provided during the transaction – which only outlines the vendor and total amount spent. This ultimately creates a problematic situation for both the retailer and customer.
DIGITAL RECEIPTS AS A CATALYST FOR MOBILE WALLET ADOPTION For mobile wallets to become widely accepted – and even the norm rather than the exception – they need to enhance the overall shopping experience for both customers and retailers. Incorporating digital receipts into their interface is a critical way to make this happen. Digital receipts provide an unmatched value to both
customers and retailers. For customers, having access to an itemised replica of a paper receipt in their mobile wallet means they will be able to easily make returns or exchanges, review policies, and have access to any promotional value that would normally be printed on the back of a paper receipt. For retailers, digital receipts present the opportunity
to easily communicate pertinent information to customers and solicit real-time feedback from them. This includes promotions, coupons, and terms and conditions. By communicating this information digitally, retailers can be assured that the needs of all departments for which a receipt is useful – financial, loss prevention and marketing – will be met and enhanced. The latest features added to the AllReceipts service
provide enhanced communication with the customer. Engage NOW allows the retailer to provide links to promotions, discounts, coupons, etc on the Engage NOW landing page. Customers using the AllReceipts App can simply tap on the retailer’s logo from the list of receipts on their smartphone and be directed to a
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