E-solutions are becoming an increasingly core part of how consumers interact with companies. The digital wallet trend, in particular, gained a lot of steam during the COVID-19 pandemic as more consumers shifted to contactless payment options. Today, many consumers appreciate the convenience of using digital wallets. These wallets can store everything from payment information to travel documents and loyalty program details. This allows people to conveniently navigate the world with just their smartphone or smartwatch.
Digital wallets offer another big advantage: a built-in security feature called tokenization. Instead of providing a vendor with an actual credit card number, digital wallets generate a one-time-use token. This allows purchases to be completed securely without transferring personal information.
These features add up to an attractive offering for consumers, as indicated by adoption rates. According to a recent Forbes study, more than half of Americans report using digital wallets more often than traditional payment methods.Additionally, the majority of people indicated they would make digital wallets their primary payment method for shopping (70 percent) and for travel (62 percent).1
And, in many cases, using a digital wallet is more than a preference; it’s a deal breaker. More than half of consumers will stop shopping with a company that doesn’t allow them to pay from digital wallets.1
While it does take some effort to orient your business around digital solutions, the good news is it’s well worth the effort. Almost half of Americans (47 percent) said they actual spend more money when shopping with a digital wallet, and 67 percent confessed to losing track of how much money they were spending.1
It’s clear that welcoming electronic payments can go a long way towards meeting customer expectations and getting them to open their (digital) wallets. In addition to physical storefronts, e-solutions are a crucial part of bill pay and customer communications, and e-solutions should be both comprehensive and fully integrated for a seamless customer experience.
Matrix specializes in the automated, electronic environment, and we’re here to help you create digital experiences that deliver. Our e-solutions have been purposefully designed to improve your business efficiencies and maximize your targeted growth.
In addition to surpassing customer expectations, we can help you:
- Minimize IT costs by handling software integration, hardware implementation, data storage, redundancy and maintenance.
- Capitalize on cross-selling opportunities by better marketing products and services to your customers.
- Store less physical inventory by housing materials safely online.
- Get paid more often by allowing customers to set up recurring payments, payment plans, partial payments and designated payments.
- Save costs on paper, postage, envelopes and labor.
- Enjoy a flexible architecture that lets you build as you go.
- Have peace of mind knowing that Matrix locations are highly secured both in terms of cybersecurity and physical points of entry.
Customers love the simplicity and security of digital solutions, and we can help you build these into your operations. Contact us today to get started.
