payment kiosks
A bill payment kiosk improves revenue, reduces
labour costs and helps the under and unbanked,
but only if deployed correctly…
By Olea Kiosks Inc – www.olea.com
cultural factors play into it with some
cultures preferring cash.
Having a reduced set of payment
options for what can be an extremely
large customer set doesn’t help to
retain and create more customers.
The end result of adding bill payment
There are all sorts of situations where
a company needs to accept regular
payments from their customers. Utility
payments, mobile phone bills and
store credit cards are just a few of
the situations where customers make
regular payments. And if one thinks
that the ability for those organisations
to accept payments via their website,
mobile or by mail has eliminated the
need for other payment options, they’d
be mistaken. Some example payments
include maintenance payments, rent
payments, healthcare co-pays, mobile
phone payments, cable TV bills, money
transfers, tuition payments, and prison
services. Others include mobile pay
as you go top-ups, long distance and
digital phone cards for international
calls. There are international payment
options available as well, especially for
Latin American countries such as Mexico,
where for example the customer can pay
a relative’s Telmex bill in California.
Under and unbanked statistics
According to a recent survey conducted
by the Federal Deposit Insurance
Corporation, more than 8.4 million
households in the United States
are unbanked, meaning they don’t
have access to a current or savings
account. Other data points to at least
50 million unbanked. Another 24.2
million households are underbanked,
with access to a current or savings
accounts, but also making use of
financial products and services outside
of the banking system. Together, more
than a fourth of U.S. households are
unbanked or underbanked. There are
specific geographic and demographic
data outlining these groups. Ethnic and
options ultimately increases the cash
flow for companies and expands their
consumer base. In addition, a significant
portion of the population, primarily
lower-income and younger people, still
prefer to conduct their business in cash.
Maybe they don’t trust the banking
system. Maybe they tend to pay bills
KIOSK solutions 21