New research discovered smartphone users shown digital advertising at point-of-sale are more apt to pull out their iPhone to make a purchase, and even spend more during the transaction.
USA Technologies (USAT) tested whether targeted point-of-sale advertising of Apple Pay acceptance would increase usage of mobile payments by consumers.
Initial findings by USAT show targeted, digital advertising on USAT’s ePort Interactive highlighting Apple Pay availability at point- of-sale resulted in a:
• 26% increase in overall transactions;
• 22% increase in total revenue;
• 12% increase in total contactless average ticket; and
• 89% increase in revenue through contactless purchases, including Apple Pay
USA Technologies began implementing NFC technology into its cashless payments solution approximately 10 years ago and by January 2015, was able to provide Apple Pay users with 200,000 places to use their wallets shortly after Apple Pay launched in October 2014.
As of June 1, 2016, USAT now provides consumers with the option to make payments using their mobile wallet including Apple Pay at more than 300,000 NFC-equipped machines nationwide, such as vending, single-serve coffee, laundry and parking pay machines.
As part of the study initiated in March 2016, USAT rolled out digital advertising through its ePort Interactive platform and digital touch-screen cashless device focusing on Apple Pay on 35 select machines in specific urban locations with a high density of iPhone users.
A recent study by Auriemma Consulting Group found that 70% of Apple Pay users say they are more likely to choose a store that accepts Apple Pay. In addition, one in five smartphone users are predicted to use mobile payments by next year, with the total value of mobile payment transactions expected to grow 210% in 2016 according to eMarketer.
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