Kiosk Solutions Issue 19 - Page 21

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