Retail & Commerce / Mobile Payment
M2M Solutions for Better Customer Service
M2M technology opens up enormous opportunities for retailers. Customers expect first-class service, yet retailers must at the same time reduce operating costs and open up new revenue streams. Connecting many stages of the retail chain makes all of this possible.
Open 24/7, never sold out. In a global market retail competition is fiercer than ever before. The winner is the one who retains the most customers on a lasting basis. Smart M2M solutions offer retailers not only many ways to improve customer satisfaction; lower operating and maintenance costs are another important argument for IoT technology.
This is apparent in various business scenarios. M2M solutions for vending machines make refilling and maintenance easier and guarantee customers better product availability. They also make the management of digital signage billboards more customer-friendly and more profitable. And mobile payment offers retailers and customers an uncomplicated and secure shopping experience.
Mobile Payment – Cashless Payment
Pay Cashless with Mobile Payment M2M Solutions
Never having to look for small change again. For many customers, this would be a dream come true. Mobile payment solutions make cashless payment easy. Furthermore, many additional functions transform the smartphone into a smart wallet.
Mobile payment is a technology that is increasingly gaining global acceptance. Gartner analysts, for example, forecast that by 2018 half of consumers in markets like North America, Japan or Western Europe will use smartphones or wearables to make mobile payments.
This is a good reason for retailers and service providers to make use of the opportunity to improve customer service by means of M2M technology. Providers offer their customers mobile payment as an uncomplicated payment option and at the same time benefit from handling less cash.
Cashless and wireless
M2M-enabled contactless Point of Sale terminals give operators a maximum amount of flexibility. With their help, cashless payments can even be made in places without a fixed-line connection. Or they can be installed as an add-on to conventional lines to avoid overloading any one system for complete reliability. Especially for mobile vendors wireless terminals are the perfect tool for receiving payment easily and securely.
Secure thanks to NFC
Mobile payment uses Near Field Communication (NFC). Most modern smartphones have this function already, as well as some credit and debit cards. Hold them close to an NFC receiver and a wireless data exchange will take place. A major benefit of this technology is that data interception is impossible because an interceptor would need to be in the immediate vicinity of both devices. Payments are then debited from credit or debit card accounts registered on the smartphone or added to the phone bill, making the service simple and secure.
Easy cashless payment opens up entirely new target groups for retailers. A safe and simple technology, it is suitable for everyone and improves customer satisfaction when shopping. Cash is no longer needed; even small amounts can be paid without undue effort or expense. Thanks to wireless payment terminals, retailers can now relocate their sales outlet spontaneously regardless whether or not it has a fixed-line connection. IoT technology is also ideally suited for vending machines. Customers can pay for a snack or drink effortlessly without having to have the right change in their pocket.
Extra benefits add to attraction
Thanks to M2M communication, smartphones can serve not only as a substitute for cash or a credit card. Customer loyalty cards, trading stamps, access cards, rail and flight tickets, concert, theater and ball game tickets are to be stored in the smart wallet and used via the smartphone. Users will have everything safely stored in their smartphone along with useful additional information. Book an admission ticket for a museum and you will be notified in advance of how busy it will be. Thanks to mobile payment you can then opt for another time or another day when the exhibition will be less crowded.
Tags: Mobile payment