Retail chain Midcounties Co-op says its customers are
supporting its implementation of Pay By Touch
facilities.
The company adopted a finger biometric payments scheme earlier
this year, and says shoppers support the system. It surveyed 1,000
shoppers in Oxford and found that 88% were pleased that the Co-op
was the first European retailer to try out the technology.
The system allows customers to pay for goods and services with a
scan of their finger rather than by debit or credit card. Payments
are taken directly from the customer’s registered bank account.
Over half of those surveyed said they had either already
registered for the service or intended to do so shortly.
Some 75% of shoppers said they would like to see the service
available at other local retailers, such as Marks &
Spencer.
When compared to chip and Pin, 85% of shoppers felt Pay By Touch
was more convenient and 76% felt it was more secure.
Ben Reid, Midcounties Co-op chief executive designate, said, “We
continually strive to enhance the shopping experience for our
customers and we are delighted that so many of our customers and
members support our initiative in trialling Pay By Touch in
Oxford.”
In addition to assessing consumer reaction, the Midcounties
Co-op has been monitoring the impact of Pay By Touch on transaction
times. Its study shows that the average Pay By Touch payment is
almost 20% faster than one using a credit or debit card.