In the retail industry, competition has forced many business owners to differentiate themselves from their competitors, by offering unique products and services. If not operating in a niche market, companies should then focus on enhancing their customer experience, something that makes them the consumers’ preferred choice, especially if offering a product or service that is already widely available.
It’s all about adding value, and businesses striving to do this often overlook an affordable, low maintenance alternative – the bill payment kiosk. Bill payment kiosk allows customers to pay utility bills including phone, electricity, cable and water bills. They provide a secure, convenient, self-service alternative for users because they are easily accessible and depending on their location, they can be accessed 24 hours a day, seven days a week. They are usually placed at convenience stores, retail outlets and groceries and are a great source of additional revenue for businesses wishing to provide this additional service to their customers.
There are many benefits to businesses that provide bill payment services via a kiosk:
It is easy to use and requires little or no service from customer representatives;
It provides additional revenue with each transaction, as there is usually a minimal charge to the consumer for each transaction completed;
It increases traffic to the location, often attracting users that are not even customers, but who take advantage of the convenient bill payment option, providing a great opportunity to entice these potential customers and ultimately increase revenue. Stores can easily plan around bill payment due dates (mid-month and end of month), arranging promotions to attract kiosk users while they are in the store; and
The machines are low maintenance, as they can be monitored remotely and require minimal training for staff. They therefore do not add extensively to training, overhead or inventory costs.
There are also benefits to customers:
They provide a great alternative for customers that are still skeptical about making payments online, as well as underbanked customers that must make cash payments;
They provide the convenience of 24/7 access to bill payment services; and
Kiosks are easy-to-use allowing transactions to be conducted quickly, eliminating the inconvenience of waiting in long lines.
Bill payment kiosks are definitely an option for businesses wanting to increase revenue and customer satisfaction. The success of operating a bill payment kiosk may also open up the possibility of providing additional services such as payday loans, check deposits, prepaid cards or even checkout services. All it takes is partnering with the right institution to provide the ultimate in convenience for customers.