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News & Views

With another year gone, remember to keep your payment solutions up to date for 2017

December 29, 2016 10:16 am by Bronwyn Watt

2016 has been a big year for the payments industry. These past twelve months alone saw contactless payments go from being a talking point at industry conferences to penetrating the consumer market; mobile point-of-sale systems continue to boom as more fixed businesses realised their potential; and the Internet of Things gave rise to what could become the “Internet of Payments” in the near future. The new year is sure to bring even bigger and better things for payments and the last thing you want to do is get left behind, so when all the exciting industry disruptors arrive in 2017, you’ll want to make sure you have the fundamentals in the bag – which is where Paycorp comes in. Stick with us and your business will start the new year with a competitive advantage.

There’s no place too remote for an ATM

It’s been proven time and again that even with all the new payment methods becoming more popular, cash isn’t going anywhere any time soon. It’s a fast, familiar and intuitive way to pay and consumers won’t be willing to let go of those benefits easily. Cash is so important that it’s needed even in the strangest of locations. Like the Khunjerab Pass along the Pakistan-China border where the highest ATM (at 4693m above sea level) in the world can be found. Or McMurdo Station in Antarctica, where the loneliest ATM sits.

Another sign that cash is here to stay is how ATMs have started leveraging the technology behind alternative payments in order to improve the consumer experience. Bank of America and Wells Fargo have led the charge of cardless withdrawals at ATMs, made possible by the same NFC technology that supports contactless payments. With just a smartphone and a mobile wallet, their consumers can now draw cash at any of their NFC-enabled ATMs in the United States – a trend that’s bound to spill over to the rest of the world soon.

Speaking of ATMs, you can do screen advertising at any ATM Solutions installation

ATM transactions are probably one of the most alert times of a consumer’s day. For this reason, ATMs present a lucrative advertising opportunity. By broadcasting your ads at an ATM, you get the undivided attention of your potential customers and you get to influence their last-minute buying decisions.

Which is why ATM Solutions has partnered with outdoor media company, Guerrilla IMC, in order to let advertisers broadcast their marketing messages on any ATM Solutions installations nationwide. With an ATM network of over 5000 installations across multiple commercial banks and Guerrilla IMC’s innovative targeting and segmenting techniques, ATM screen advertising might be one of the last remaining ways to capture the attention of consumers.

There’s a lot to look forward to in tech in the new year

MasterCard plans to roll its biometric verification app, MasterCard Identity Check, out to the rest of the world early next year. The app created a lot of buzz this year as the “Selfie Pay” app because one of the ways users could verify their payments biometrically through the app was by taking a selfie (which is cross-referenced against an ID or driver’s licence photo). For the moment the app is available in the US, Europe and Canada.

A lot of new technologies and innovations will also enter the mainstream next year. Look forward to hovercrafts that actually hover (3m above the ground), PlayStation VR and the beginning of true artificial intelligence. As a business owner looking to improve your revenue, however, you would be remiss to overlook a Kazang terminal as your must-have gadget in 2017. You will be able to sell prepaid airtime and electricity, international calling vouchers, facilitate remittances and international airtime transfers, all from the convenience of one easy-to-use device.

We would like to wish you a prosperous New Year for your business

From everyone here at Paycorp, we wish you a happy, healthy and successful 2017. In the new year we hope all your business ventures thrive, we hope you find new ways to innovate and redefine what true entrepreneurial spirit is, and we hope to be with you every single step of the way. We thank you for your continued support. Until next time, cheers!





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