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Mobile Payments at the Service Station| Verdict Trend Report

  • July 2015
  • 50 pages
  • GlobalData
Report ID: 3468685

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Summary
In the UK in 2014, contactless payments took place at the rate of 10 a second and rose in value by £219m since 2013. Retailers across Europe are increasingly beginning to offer mobile payments as they look to benefit from faster payment transactions. Unmanned sites, car washes, fuel cards and retailer loyalty schemes can all benefit from the introduction of mobile payments at the forecourt

Key Findings
- Plan future strategies by examining the benefits and potential barriers to the adoption of mobile payments at the forecourt.

- Identify future mobile payment trends and how you can take advantage of them

- Examine how other retailers use mobile payments at the forecourt and benchmark them against your current offerings.

- Analyse current motorist mobile payment spend and frequency to correctly set payment limits at the forecourt.

Synopsis
Only 13.3% of motorists across Europe use mobile payments at the forecourt, due to the lack of service stations accepting this payment type. With motorists also being limited to a maximum spend of around £20 (dependent on local currency) per transaction, many are unable to use mobile payment methods, even if they have set them up.

Italy has the highest spend on mobile payments per transaction across the top five European countries at €26.79 due to the number of smaller vehicles and scooters in the national parc, that have smaller tanks making their refuel cost eligible as it comes under the transaction limit.

European motorists who use mobile payments do so twice a month on average. With the maximum spend using mobile payments being so low, many motorists will only be able to use this payment type if they are not refuelling their tank fully or visiting the shop for food and drink items, limiting its use at the forecourt.

Reasons To Buy
- What are the current trends in mobile payments at the forecourt? And how can retailers take advantage of them?

- How much does the average motorist spend per mobile payment at the forecourt and how often do they currently use it?

- What are the benefits for fuel retailers of implementing mobile payment methods at the forecourt?

- What are the barriers to mobile payment uptake at the forecourt and what are the solutions to these issues?

- How will future mobile payment trends affect the market and how can fuel retailers take advantage of them?

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