Why self-service kiosks are a good investment for businesses

by Je Yaranon on June 2021

Times have been tough for businesses everywhere over the last 16 months. It has been a challenge to work around the new normal’s limitations while also finding opportunities to expand reach and services.

The rise in the availability of delivery services and e-payments are among the things that emerged. Both seem to be effective, but there are other aspects that owners ought to take into consideration as well, and among those are self-service kiosks.

What are self-service kiosks?

A self-service kiosk is a device situated on a fixed point. It usually has a touchscreen function and is used to display various types of information. When used as a point-of-sale checkout, it is paired with a payment terminal that can allow customers to order and pay for goods/services by themselves.

What are the benefits?

The benefits are plenty as self-service kiosks make life easier for both merchants and consumers. Let’s quickly explore some of the benefits:

The speed – One of the best benefits of digital payments is how fast it is compared to traditional, cash-based processes. It can be both appreciated by the merchant, who would enjoy better turnaround times, and the customer, who simply wants the transaction to be as quick as possible and move on with the item(s).

The ‘contactless’ factor – ‘Contactless’ is as important as it can be because of our need to physically distance during this pandemic. Self-service kiosks allow that as the customer does not have to interact with anyone during the entire transaction.

Better profitability – Adding a self-service kiosk is like employing a new staff member, so despite potentially needing higher capital, its productivity will lead to better profitability in the long run. Such kiosks run like clockwork, and it’s designed to process countless transactions over and over and over. That would then allow actual staff to do other tasks freely or efficiently increase their workload.

Unique upselling – Upselling is needed, but it’s tricky as it can annoy customers and prevent them from coming back to your store. The same worries are not exactly applicable when it’s done on kiosks, where the upsell is present through text and graphics, and thus, subtle enough not to pressure or bombard the customer.

Easy software management – Connectivity is everything and self-service kiosks have that and more. Since it’s networked, it’s accessible and can easily be managed anywhere. Other cases even allow business owners to update content and certain functionalities through a cloud-based software.

Why is it a good investment?

Simple. It may be part of the payment industry’s future. With or without the pandemic – and the subsequent need for physical distancing – there’s a growing belief that the safety measures will grow on society due to its list of conveniences, and that we will continue to practice the guidelines post-COVID-19.

Further, the potential is enormous as all things mentioned above also extend to other benefits and considerable factors. Fast payment processing, for one, results in more customers getting served, which then turns into them being pleased with the service, making them more likely to recommend your brand to others. That can branch out positively in a variety of ways.

Best businesses for a self-service kiosk

Many retail businesses can find good use for a self-service kiosk, whether as a payment checkout or a simple virtual menu/pricelist, but there are others that are particularly suited for a kiosk or two. Restaurants and fast-food chains are using it more and more as it helps avoid building long lines and allows customers to input their orders at their own time.

Last in the mix, but definitely not the least since it might be the most common, are parking spaces, wherein kiosks are able to dispense tickets/cards for the customer and also gather information needed for the eventual parking fee.

Self-service kiosks are not as sought-after as other interactive devices, but it has promising momentum and all the makings of a desirable, high-tech tool for all parties. We shouldn’t be surprised if it’s able to fully takeoff soon.

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As VeritasPay continues to provide high-quality payment solutions and promote cashless transactions, the company is also dedicated in bringing in fresh and informative content. We’ll be continuing to share new articles about our products, services, and varying subjects within the industry as we move forward.

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