The Story of the In-Store Shopping Necessary Development.
January 2020, the covid crisis was declared and the world has been upside down ever since.
The pandemic also had a direct impact on purchasing habits. In fact, some customers switched overnight for e-commerce for their purchase instead of In-store’s.
However shelves weren’t completely deserted especially in the food sector with customers still coming in stores, but with news expectations .
Therefore the challenge for merchants was to adapt and make their practices evolve in no time to reassure customers while meeting their new expectations.
Massive expectations were claimed in terms of health safety, life quality, goods and necessities availability and so on.
From one day to the next, many countries decided to contain their population.
In a first step, waves of customers took stores by storm for last minute purchases and retailers had to face it as the same as ensuring both their safety and the staff one in a long terms vision.
Pharmaceutical industry, supply food industry, Hospitals and convenience shops were forced to go through this general shutdown while still answering an increasing demand.
It raised new challenges for all industries.
In the Payment industry in particular, the challenge was extremely serious.
Payment service providers had to adapt very fast and offer solutions to embrace their clients businesses changements.
How both cashier and client avoid contact?
How to give change while not being capable of giving it by hand ?
How to avoid contact with payment terminals ?
These were the starting points of the challenging brainstorm. All teams worked hard to bring answers and facilitate the payment pathway in a very short amount of time.
Contactless payment card, mobile wallet, payment ceiling increase were some of them.
Many solutions were rolled-out on the market, and heavily marketed: contactless loyalty programs and payment, contactless payment ceiling increase, autonomous checkout, etc.
During this period, Market Pay in particular enabled Carrefour France to increase contactless payment ceiling to 100 euros for its PASS cardholders in just 4 days, or to deploy NFC loyalty for its iPhone customers.
In less than four days, many solutions have been rolled-out such as increasing the card ceiling from 30 to 50 euros for all clients from Belgium, France, Italy and Spain and from 50 to 100 euros for PASS card.
Market Pay was able to meet both retailers and customers expectations while providing qualitative services.
Read more about the Market Pay NCF implementation in the Carrefour Group.
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The Reappraisal of The Traditional Ways
These extremely fast evolutions were the watershed to accelerate the rethinking of traditional ways for project conception.
In order to offer a viable solution in less than four days, teams had to rethink their processes and mindset to implement new ones.
Therefore the term “agility” has been more than ever relevant and appropriate to respond to this challenge.
More generally, this crisis has also reminded payment services providers and merchants of the importance of changing their practices in depth, so that they can continue to adapt to changing purchasing behaviors at the pace dictated by the market.
Market Pay, Promoter of Change
At Market Pay, we are convinced of the in-store legitimacy in terms of customer experience and supplier.
But, as experts of the payment chain, we want to raise the retailers awareness about these necessarily evolutions for the in-store business sake.
In fact, retailers have to lean on payment qualified actors, which are able to adapt fast to particular situations such as the 2020 sanitary crisis but also navigate through the constant changes in the market (in terms of customer expectations, technological and legal developments, etc.).
For instance, do they have payment entities that are able to respond efficiently to the multi payment means demand?
Can they manage a major internet connections shutdown ?
Do they reconcile online and in-store activity, in order to properly finance each store ?
These questions are fundamental for actors of payment, and even more for retailers who have to manage hundreds of thousands of flows per hour in hundreds of stores.
At Market Pay we encourage and embrace changes.
More about Market Pay:
Born in retail to drive payment
Founded in 2016, Market Pay knows the European retail ecosystem and its payment stakes. Based on its knowledge of…