wand mobile and contactless payments webinar slides
TRANSCRIPT
Mobile and Contactless Payments
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Agenda
• Introductions• Definitions • Benefits for restaurants• Mobile promotional strategies• Technology options for your restaurants• What’s coming next• Recap• Q&A
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Introductions
Chuck GehmanVP of Product Management
19 Years a Tech FanaticFavorite Desert: Ice Cream
Nate HubertSenior Product Manager12 Years a Security Guru
Favorite Dessert: Cheesecake
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@WANDCorporation
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Definitions
Contactless Payments (In Store)
Terminals accepting payments from digital
wallets in the store.
Mobile Payments(Order Ahead)
Mobile app accepting orders and payments
placed prior to pick-up.
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Benefits for Restaurants
1. Increase Speed of Service
• No friction points (e.g. magnetic swipe, EMV)• Increase speed = increased sales• Critical for limited service (QSR/Fast Casual) restaurants
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2. Improved Data Security
• Same technology as chip and PIN• Credit card number never stored• “Payment Unaware” point of sale
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3. Attract Affluent Customers
• Latest gadgets = higher disposable income• Security conscious • Technology early adopters• Millennials and Gen Z • More apt to share feedback socially
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4. Mobile Marketing (with Mobile Payments)
• Order and payments tied to loyalty app• Loyalty programs and games• 1:1 message based on buying behaviors • Digital messages to incentivize
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Recap – Benefits for Restaurants
1. Increase the speed of service2. Improve data security3. Attract affluent customers4. Provide mobile marketing
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Mobile Promotional
Strategies
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1. Loyalty Programs
• For: your most profitable customers • Goal: to reinforce behavior• Action: reward for frequency or engagement; make them earn it• Most popular programs: collect points/buy # of time, get free• Most effective way to do this: time appropriately
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2. Digital Coupons
• For: new customers you want to acquire• Goal: to incentivize them to visit and buy• Action: provide digital coupon for download to mobile device• Most popular coupons: $ off, % off, BOGO, anything free• Most effective way to do this: make it easy to share on social networks
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3. Gamification Techniques
• For: passive customers you want to make loyal• Goal: to get them to frequent your restaurant more• Action: in-store reward for games completed via mobile• Most popular games: anything that offers in-store rewards• Most effective way to do this: with easy-to-play, mindless games
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4. Badging and Trophies
• For: the customers who frequent your establishment the most• Goal: to get them to be social brand advocates • Action: badging and trophies for actions completed• Most popular items: the ones that are the hardest to earn • Most effective way to do this: badges awarded for key milestones
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Recap – Promotional Strategies
1. Loyalty Programs2. Digital Coupons3. Gamification Techniques4. Badging and Trophies
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Technology Options for Your Restaurants
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Contactless
Payments (In-Store)
1. Stationary
• Same as one most use now, but enabled to accept mobile and contactless payments
• Mounted on the counter• Easy POS integration• Ideal for limited service
and retail hosts
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2. Drive-Thru
• Small terminal easy to hand out through window
• Connected to POS via cord• “Terminal on a Stick”• Easy POS integrations• Ideal for limited service
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3. Handheld
• Handheld device for servers• Good for line-busting scenarios• Ideal for tableservice restaurants
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Mobile Payments (Order Ahead)
1. Build Your Own App
• Build it yourself (in-house or outside developer)• Pro: build it exactly the way you want it• Con: expensive
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2. Create a Mobile Website
• Build a mobile site and integrate with digital wallets (e.g. Pay Pal)
• Pro: inexpensive, fast to execute • Con: limited in features
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3. Use a Mobile Ordering Service Provider
• Work with Grub Hub, Eat 24, etc.• Pro: they’re the experts in this, it will
work well• Cons: not customizable to your brand,
missing out on ways to increase loyalty and sales
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4. Work With Your Point of Sale Provider
• POS provider can build and deploy it for you• Pro: it’ll be sure to integrate with your POS• Con: it’s a cookie-cutter design, other brands
will have it too
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Recap –Technology Options
1. Stationary2. Drive-Thru3. Handheld
1. Build Your Own2. Create a Mobile Website3. Use a Mobile Ordering Service4. Work with Your POS Provider
Contactless Payments Mobile Payments
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What’s Next?
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What’s Next?
1. Mobile, mobile and more mobile
2. EMV and liability shift
3. Increased development
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Recap
• Don’t just get caught up in the cool factor• Strategize to figure out what’s best for your brand• Focus on increasing loyalty and sales with the right audiences• Get the right technology for your restaurant concept• Widespread adoption is coming soon so jump in now
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Q&A
Contact Us
Chuck GehmanVP of Product Management
Favorite Action Movie: [email protected]
Nate HubertSenior Product Manager
Favorite Action Movie: Die [email protected]
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