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Home > Business/Finance > Financial Services > Electronic Transactions
Case Profile: Innovations in Forecourt Payment Solutions
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| Published Date:
June 2004
Published By:
Datamonitor
Page Count:
37
Order Code:
R313-6927
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Introduction
Globally, around 30% of forecourt sites offer automated payment, and in certain markets 90-100% of sites operate at least one Outdoor Payment Terminal (OPT). This case profile outlines the existing automated payment options available, and compares them to new alternatives such as mobile and wireless payment, making an assessment of the main providers offering each solution.
Scope
Qualitative in-depth interviews with 12 executives from fuel retailing, convenience retailing and forecourt payment solution providers.
An assessment of the innovative payment solutions currently available, and those currently on trial, to understand strengths and weaknesses of each.
Insight into the major providers of automated payment systems to understand how they operate within the forecourt environment.
An understanding of how both providers and fuel retailers can overcome the barriers to increased usage of new forecourt technology.
Highlights
In certain markets automated payment through Outdoor Payment Terminals has the potential to increase fuel throughput by up to 25%, with little impact on the convenience store, as the target customer is different. OPT allows space to be 'freed up' in the store and cuts queuing times.
ExxonMobil has led the way in using automated payment systems on the forecourt. Working with the most renowned companies, it has been particularly successful at implementing the technology and adapting the offering to meet the needs of each market.
A combination of factors including: banks refusing to accept wireless payment; safety fears; high initial investment; and significant operating costs, have made companies hesitant to consider Wi-Fi and mobile payment on the forecourt. Until the major barriers are overcome, these payment options are not viable options for forecourt retailers.
Reasons to Purchase
Identify the strengths and weaknesses of automated payment solutions on offer and how they can be adapted to meet the needs of your business.
Understand which providers offer each payment option and how they have worked with major fuel and convenience retailers so far.
Assess the potential for new innovations currently being trailed, considering the opportunities for your company in the short-, medium- and long-term.
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