Convenience store customers today expect a seamless integration of digital and in-store experiences from retailers. This growing trend towards “phygital” retail provides an opportunity for c-stores to leverage their mobile applications, online offers, and self-service kiosk technology to attract foot traffic, build loyalty, and boost profits.
Bill payment kiosks drive foot traffic
Bill payment is the number one service convenience store customers want from self-service, with over 44% citing it as a desirable option. By offering a quick and easy bill pay kiosk, c-stores can bring in customers who might not otherwise visit.
Bill payment provides particular value and convenience for underbanked and unbanked consumers – approximately 25 million US households. For these consumers, paying bills online or through check is a challenge. So, the option to visit a kiosk at a nearby c-store and pay in cash is highly appealing.
Additionally, convenience store hours enable customers to pay a wide range of bills at a time that works best for their schedules. And that “anytime” accessibility, combined with speed and ease of payment, makes kiosk payments more desirable than other payment options – such as US mail or customer care phone systems. C-stores that install a bill payment kiosk can expect to see more foot traffic from customers who actively embrace the freedom and convenience of this self-service option.
Gift card kiosks capitalize on digital trends
Gift card purchases and reloads are the second most sought-after self-service option, cited by 37.5% of consumers in TNEX’s report. This aligns with the major uptick in digital gift card purchasing over the last few years.
According to PaymentsJournal, digital/virtual gift card purchases have risen 36% for personal use and 31% for gifting. And this ongoing shift from plastic to digital gift cards is providing a lucrative opportunity for c-stores. Kiosks that allow customers to conveniently buy or reload virtual cards can shift a low-profit sales item (gift card purchase) to self-service while attracting additional consumers and revenue.
Consumers spent over $200 billion on gift cards in 2021 and experts expect the trend to continue in the coming years. With a self-service gift card purchase and reload kiosk, any convenience store or gas station can offer top branded gift cards on demand. And, with digital gift cards, there are no concerns about inventory, activation, or fulfillment, making implementation simple and profitable.
Prepaid card loads meet consumer demand
Cited by over 30% of consumers, prepaid card reloading rounds out the top 3 most-wanted kiosk services. The data is hardly surprising. In 2012, US consumers loaded more than $64 billion onto prepaid cards. And the prepaid segment shows no signs of slowing, with spending on reloadable prepaid cards projected to hit $468 billion in 2023.
Offering a kiosk capable of reloading prepaid cards allows convenience stores to capture a chunk of this massive revenue opportunity. In addition, the self-service functionality means minimal effort and overhead for store owners. Customers can quickly and easily add funds to their preferred prepaid cards without requiring additional inventory space or cashier assistance.
BANK IN A BOX provides the avenue for a complete self-service suite
The BANK IN A BOX system from Cash Depot offers a fully-integrated self-service platform capable of integrating all three of the top in-demand consumer financial features, and much more. When installed and enabled, customers can visit BANK IN A BOX kiosks inside convenience stores to pay bills, purchase and reload gift cards, and add funds to prepaid cards.
The sleek design of these machines limits the amount of floor space required to achieve the maximum kiosk functionality for customer convenience. BANK IN A BOX empowers convenience stores to offer the self-service options customers want most.
But more importantly, these versatile kiosks pull in foot traffic, drive repeat business, and position c-stores as go-to destinations for fast, convenient “phygital” service.
Learn more about transforming your stores with BANK IN A BOX!
TLDR: Customers say they want to use self-service to perform prepaid card reloads, gift card purchases, and bill pay. Now convenience stores can put all of these profit-building, traffic-pulling options into a single machine – BANK IN A BOX!
