A new report published by Transaction Network Services (TNS) has suggested most consumers are open to new experiences when they pay at the pump, potentially offering significant revenue opportunities to retailers.
‘The Market Opportunity for Secure Commerce at the Pump’ explores the findings of a survey TNS commissioned among US, UK and Australian adults. It asked consumers about their current usage of pay-at-the-pump facilities and their willingness to engage with new technologies and services at the fuel dispenser, which could see them order food items or watch advertisements to gain discounts, for example.
Key findings include:
- Globally 61% of respondents said they prefer to pay-at-the-pump instead of paying the cashier
- Seventy-three percent of 25- to 34-year-olds are interested in buying other items at the pump
- Seventy-three percent of respondents globally would be interested in being given a discount on their fuel price if they watch an advertisement at the pump
- In the US, 67% of men between 25 and 44 years old would like to order and pay for prepared food at the pump
- Sixty-two percent of Australians between 25 and 34 years old would like to receive prepared food like pizza, burgers and coffee delivered to their vehicle while they are filling it up
- UK respondents were the keenest (76%) to make instore purchases which gave them instant discounts on fuel
“In a world where technology and convenience have turned customer demand into customer expectation, our survey uncovered evidence that suggests consumers are looking to securely engage in more commerce opportunities at the pump,” said TNS’ Chief Executive Officer, Mike Keegan. “We appear to be at the crossroads of a new shift in consumer behaviour, and forward-looking merchants that adopt and implement new technologies and provide broader services will benefit the most.”
“Pay-at-the-pump facilities are rolling out across the UK and Australia at an increasing pace,” added Bill Versen, TNS’ Chief Product Officer. “Combine this with the significant EMV terminal upgrade in the US and we find ourselves looking at a buoyant market filled with potential. As a result, we expect to see many exciting new technologies brought to market and we look forward to collaborating with these new players to ensure that the payments elements of commerce at the pump remain secure.”