How to prepare for the adoption of new payment technologies at your petrol station?
The world of mobility is changing rapidly, and petrol stations must keep up with these changes. For decades, the overall ecosystem around gas stations has remained unchanged, but now, the industry is undergoing a dramatic shift. Customers today expect personalized services and superior experiences as part of their lifestyle journeys. This means that petrol stations must adapt to the changing customer mindset, or risk falling behind innovative players.
The adoption of new payment technologies is an important part of this shift. Mobile payments and contactless payment methods are becoming increasingly popular among customers, as the pandemic has established the “digital-first” society, and petrol stations must be prepared to accept these payment methods.
Here are some steps that petrol station owners can take to prepare for the adoption of new payment technologies:
Assessing the petrol station's current payment systems:
Before adopting any new payment technology, petrol station owners must evaluate their current payment systems. They should assess the payment methods currently accepted and consider the associated costs of each payment method. Additionally, owners should evaluate the efficiency of their payment systems and identify any pain points that need to be addressed.
Staying up-to-date with new payment technologies
Staying current with the latest trends and developments in payment technology is crucial for businesses looking to stay ahead of the curve. Attending trade shows (e.g., NACS) , reading industry publications (e.g., on Petrol Plaza), and keeping informed about the latest payment technologies can assist businesses in identifying new payment technologies that are suitable for their operations and assessing their potential benefits.
Additionally, it is equally important for businesses to find the right payment technology partner who can help them adapt to new payment technologies. This partnership-approach can ensure that businesses are always up-to-date with the latest payment trends, allowing them to remain competitive in the market.
Choosing the right payment (technology) provider
Another critical aspect of preparing for the adoption of new payment technologies is selecting the right payment provider. It is essential to look for payment providers that offer the payment methods demanded by customers and that can integrate seamlessly with the existing payment systems.
Explore partnership opportunities with payment technology providers who share the same vision of supporting clients and partners in the mobility sector to change the industry dynamic and get closer to their customers by delivering unparalleled convenience to them. Seek out providers who are actively driving a paradigm shift in the payments industry by lifting in-person payments from its legacy rails to deliver digital flexibility and efficiency to the last mile of payments.
Connecting with the (mobile) customers
In the new mobile customer world, payments are essential for connecting with customers across various POIs (points-of-interactions). Therefore, effective communication about new payment technologies is crucial to help customers understand the changes, how to use them, and the benefits, such as increased security and faster transactions.
Simultaneously, as customer value increases, the customer journey becomes more complex, spanning digital and physical channels, multiple partners, and distributed networks of charging stations. To adapt to changing customer needs, it is important to connect channels, use data to understand customer behavior, and holistically control the endpoint estate.
Petrol stations need to adjust to the evolving customer mindset to stay competitive in the dynamic world of mobility. This shift is driven by the “digital-first” society, and petrol stations need to explore novel ways of engaging with customers to stay relevant. Incorporating new payment technologies is a crucial step towards achieving this goal. By adhering to the recommended steps, petrol station owners can ensure a seamless transition to new payment technologies and keep pace with the ever-changing mobility landscape.
Looking to adopt new payment technologies and seeking a partner to support you?
At Aevi we are passionate about working with our clients and partners in the mobility sector to revolutionize the industry, bringing them closer to their customers and providing unmatched convenience worldwide. Contact us today to learn more!