UK: Costcutter adopts ‘scan, bag and go’ mobile payment technology
The Costcutter store, based at the Students’ Union, will go live with the ‘Mini Checkout’ app today, allowing it to offer a queue-free experience to students who can now scan, bag and go.
The app, pioneered by Newport retail services firm Retail Merchandising Services (RMS), allows shoppers to scan items’ barcodes and directly charges their bank account, saving the time that would have been spent queuing in store, ensuring a more convenient, less stressful shopping experience.
After downloading the app, consumers are asked to input their bank details into a secure database. Then, when shopping, they can quickly pay for the items in their ‘basket’, using their stored debit card details. When exiting the store, shoppers then scan a generated barcode on their smartphone against an optical scanner to verify their digital receipt for security purposes.
With fees charged by credit cards companies to retailers ranging from up to 2.5% per transaction, this technology – available on Android and iPhone- only takes 1.5% of each transaction, with the remainder going to the retailer.
The app, which is being targeted at Britain’s 47,000 independent retailers, will be unveiled by veteran Welsh sprinter Christian Malcolm, who has joined the RMS team following his retirement.
In addition to its technology offering, the company provides a full range of retail services to major retail chains including store design and build, recruitment, training and distribution. Its client base includes national retailers such as Tesco, John Lewis, B&Q, Co-Op and Asda.
The firm, which increased sales by 229% between 2010 and 2012, won the ‘fastest growing firm in the retail and wholesale sector’ award at the 2013 Wales Fast Growth 50 awards and is targeting increased sales this financial year.
Alongside that, its chief executive officer, Peter O’Toole, is the current Entrepreneur of the Year, scooping the award at the 2013 IWA/Western Mail Business Awards.
O’Toole, CEO of RMS and Mini Checkout, said:“We are delighted to announce Swansea University as the first in the UK to sign up to Mini Checkout at its main retail outlet. “This Costcutter store’s daily customers will be students and young people, all using smartphones and operating at 100mph and with the speed of this app, shopping here will be a much faster and more enjoyable shopping experience.
“With convenience stores seeking to expand and compete against major supermarkets, this technology puts them one step ahead, without having to invest in costly self-scan infrastructure and new tills. With this app, all shoppers need to do is scan, bag and go.”
Source: retailtimes.co.uk
