Green Sheet interviews Ingenico's James Lloyd

This summer, as temperatures rise and foot traffic picks up across retail, travel, and hospitality, merchants are under pressure to deliver seamless payment experiences that meet evolving consumer expectations. In this Q&A, The Green Sheet touches base with James Lloyd, head of transformation at Ingenico, to explore the payment trends shaping the season, from mobile wallets and contactless cards to the growing popularity of QR codes and SoftPOS solutions.

Lloyd shares actionable insights on how businesses can adapt their checkout strategies to enhance customer loyalty, reduce friction at the POS, and embrace secure, scalable solutions that align with how people want to pay today.

1. What digital payment trends are taking hold this summer, and how are they influencing consumer expectations at the checkout?

There is growth in adoption of several payment methods, from contactless payments with mobile wallets and contactless cards to more people using payment apps and buy now, pay later (BNPL) for in-store purchases. Interestingly, people aren't loyal to one payment type. They use whatever's most convenient at the time. The trend is that consumers take advantage of payment choice, and they expect merchants to offer it.

2. As more shoppers use mobile wallets and contactless cards, what role does the checkout experience play in shaping brand perception and customer loyalty?

Merchants who meet shoppers' expectations for contactless payments communicate that they want to make experiences quick and easy. It also communicates that the brand takes advantage of technology to enhance those experiences. The technology a merchant uses to meet consumer expectations says a lot about a brand's attitude toward its customers — that the company appreciates their business. Consumers sense it, and it helps to build loyalty.

3. Travel, entertainment and hospitality often see dramatic seasonal surges. What makes frictionless checkout particularly important in these sectors?

People want their summer activities to be fun. As they move from travel to outdoor activities, tourist attractions, events, restaurants and hotels, fast, simple payments remove friction and keep the focus on the fun. Mobile payment solutions and kiosks with unattended payment devices allow merchants to take payments outdoors—on the restaurant patio, in line at the amusement park or at the stadium—and keep lines short inside and out.

4. What common mistakes do merchants make when preparing their POS systems for peak periods, and how can they avoid them?

Merchants know they can enhance experiences by taking payments on the spot, rather than requiring customers to go to a checkout counter and wait in line. But the question for seasonal businesses is whether to invest in new portable payment devices for the summer or continue using their legacy systems, which don't adapt to provide great customer experiences. Either option has its downside. SoftPOS, software-based payment technology, now gives them a third—and better—option.

With SoftPOS, merchants can use the mobile devices, like handheld computers, tablets and smartphones that they already own to accept contactless payments. Consumers tap their cards, and near-field communication (NFC) allows the SoftPOS solution on the mobile devices to capture payment data and run the transaction. It's a low-cost way to expand payment capabilities and enhance customer experiences.

5. How are QR-based payments evolving, and what advantages do they offer merchants looking to streamline the in-person payment experience?

During the COVID-19 pandemic, QR codes gave merchants with physical stores a touch-free way to handle payments. Customers would scan the merchant's QR code, which took them to a payment web page where they would complete the transaction with payment data stored on their smartphones.

Now, merchants are reading the QR codes from their customers' payment apps to complete transactions. Ingenico supports a wide range of QR-code-based payments, including BNPL and cryptocurrency, which allows merchants to expand the choices and convenience they offer their customers.

6. For merchants looking to upgrade or optimize their payment systems this season, what best practices would you recommend to ensure both speed and security?

It starts with defining your business goals and finding the solution that will help you meet them. Identify where you want to accept payments to keep lines short, which will dictate the payment device's capabilities for mobility and connectivity.

Also, consider the volume of payments and make sure the device has the processing power for fast payments that help keep lines short. It's critical to train employees so they can use the devices smoothly during customer interactions.

Security is non-negotiable. Every payment device should include the latest PCI PIN Transaction Security (PTS), encryption and native security features for the strongest defenses against data breaches. Ingenico takes a multi-layered approach to security, using multiple tactics to keep payment data safe.

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