Self-service kiosk implementations have increased in the past few years, and signs point to the trend continuing, creating a demand for kiosk payment solutions. The self-service kiosk market, valued at $27.48 billion, is expected to grow at a CAGR of 6.5 percent from 2022 to 2028.
Fast, efficient, hassle-free experiences are a top driver of kiosk growth. The solutions you provide help consumers execute simple transactions like placing orders, buying tickets, or paying for purchases. Kiosks deliver the on-the-spot service preferred by customers. The demand for kiosks is also related to the ongoing labor shortage and rising labor costs. Kiosks can handle simple tasks, allowing merchants to reallocate labor and optimize schedules.
Merchants are deploying the kiosks you design to enhance experiences and operational efficiency. However, to fully meet the demand for these solutions, you need to enable kiosks to accept a variety of different payment types.
The Wide Range of Kiosk Payments
Merchants deploy kiosks to enhance the customer experiences they offer – so they don’t want the limitations of only accepting one type of payment. Offering your clients a variety of kiosk payment methods will give them the freedom to create customer-pleasing self-service experiences.
Cash and Payment Cards
Last year, consumers used cash for 40 percent of all small-value payments. However, consumers under the age of 25 favor card payments for small purchases. Depending on your clients’ average sales amount and the demographics of their customer base, it may be crucial to equip kiosks to accept both.
Contactless Payments
About 59 percent of global consumers prefer contactless payments over cash or payment cards. Kiosks should be equipped with near-field communication (NFC) to wirelessly transfer data between a mobile wallet or contactless card and the kiosk’s payment terminal. Consumers simply tap or hold their card or mobile device near the kiosk to process payment.
QR Code Payment
QR codes are another way to provide customers with self-service convenience. Consumers scan QR codes on the screen or printed receipt that opens a payment page so they can complete the transaction on their mobile devices.
Biometric Facial Scans
Some kiosks are designed for easy payments via facial scan. Consumers register through an app that stores their scans and their bank or payment card information. To pay, customers just stand in front of the kiosk’s camera to pay. Businesses, such as Daddy’s Chicken, a quick service restaurant in Pasadena, CA, implemented biometric facial scan kiosks to expedite and safeguard the ordering process while providing a contactless, frictionless experience.
Omnichannel Payments Company is a Must
With so much diversity among the self-service experiences that merchants want to provide, you need to integrate your solutions with a payment company capable of supporting all types of payments. Ideally, merchants should work with a single omnichannel payments company across all their selling channels. This streamlines operations, particularly from an accounting perspective, giving the back office one report from one provider to expedite reporting. Additionally, it provides a single source of truth for business owners to analyze trends in product purchases and buying behavior across channels.
Also, using a single omnichannel payments company to accept kiosk payments and payments at the point of sale, online, in-app, or on other selling channels can minimize costs that merchants can encounter when using multiple providers, resulting in a healthier bottom line.
When considering payment partners, it’s wise to choose a processor-agnostic company. This gives merchants the greatest flexibility in selecting the processor that is best for their business, with the agility to change processors if payment processing fees change or they need different terms or services.
Kiosk Payment Solutions Should Combine Functionality and Choice
Self-service kiosks meet the demands of consumers and overcome the labor challenges of business owners. However, kiosk payment functionality is a vital part of the total solution. Ensure the solutions you provide give your clients the functional and versatile payment technology required for business success today and tomorrow.
Contact us to learn more about integrating payments with the kiosk solutions you design and a payment solution that supports transactions anywhere consumers engage with your clients.
