The self-service kiosks are not a new phenomenon, in fact the ATMs are present since past 5 decades. However, in past decade, especially in past 5-6 years we have witnessed a huge explosion in adaptation of self-service interactive kiosks. There are several reasons behind this monumental market shift. Majorly our dependence on smartphones and familiarity with digital interaction are the two most crucial factors fueling the rapid growth of interactive self-service kiosks. A self-service payment kiosk is also an interactive self-service kiosk but with additional features to facilitate transactional interactions. Customers can make payment via self-service payment kiosks without requiring any assistance from the staff.
The self-service payment kiosks are revolutionary technologies, elevating various service sectors and enabling businesses to optimize internal operations for superior efficiency. There are various service sector which require payments from their customers. But the large influx is always causing queuing problems, resulting in unsatisfactory customer experience. An interactive self-service payment kiosk not only eliminate the staff dependency, but it is capable of automating and enhancing various internal processes. This results in better customer experience and efficient business performance. In this blog we will discuss why the self-service payment kiosks are on rise and how these incredible solutions can help your organization grow at a rapid pace.
The Rise of Self-Service Payment Kiosks: A Look into the Future
Introduction to Self-Service Payment Kiosks
The self-service payment kiosks are based on a computer terminal, relevant payment accepting peripherals and a smart backend software solution. A standard self-service payment kiosk comes with touchscreen, internal computer terminal, Debit/Credit card reader and sometime cash accepting devices. The biggest advantage of self-service payment kiosk is that, these are completely customizable, businesses can add tons of peripherals to build innovative features. Devices such as Emirates ID reader, RFID readers, NFC based payments, Facial Recognition, Biometrics, IP Phone, Physical Keyboards, Document Scanners, Document Printers, Passport Scanners, QR Code/Barcode scanners and much more. All these peripherals drive innovation, automation and seamless user experience.
This level of customization, flexibility and adoptability encouraged businesses to adopt self-service payment kiosks. Moreover, these solutions can revolutionize customer experience. A similar payment process which can take up to 1 hour due to long queues, and manual payment processing, can be squeezed to merely a few minutes. Powered by a smart payment kiosk software a self-service payment kiosk is programmed to deliver user-friendly experience through its intuitive UIs and other customer friendly features. Beyond customer experience, the self-service payment kiosks can greatly improve internal business processes and help businesses drive efficiency through automation. These kiosks can be integrated with internal system, which makes them even more efficient and help automating various workflows.
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Introduction to Self-Service Payment Kiosks
The international market of self-service kiosks is showing persistent growth. This growth is evident of their unmatched advantages and potential. Here are some key trends which will going to drive self-service payment kiosk industry in future:
Demand for Labor Cost Reduction
The global labor cost is going high. No matter if you are in a developed nation or in developing nations, the labor cost is going high. The human resource is where any business invest a huge chunk of their earnings. According to global data, the labor cost will continue to rise in coming years. This will compel businesses to adopt more efficient and smart technologies that can not only work efficiently but also help to reduce the labor cost. The self-service payment kiosks offer exactly the same, they can greatly improve efficiency and have ability to automate various internal processes which are typically done by staff.
The self-service payment kiosks are ideal solution to reduce operational cost. Moreover these kiosks can operate round the clock, without requiring any need of break or vocations. This makes them ideal for businesses who want to optimize human resource management expenses. This could be one of the biggest catapult to the adaptation of self-service payment kiosks. Self-service payment kiosks allow businesses to reallocate human resource to more productive tasks for higher profitability.
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Demand for Labor Cost Reduction
Demand for Superior Customer Experience
Businesses operating in Dubai, Sharjah, Abu Dhabi and all around the UAE knows how competitive these markets are. With the government polices to support startups, platforms and tools for more businesses to enter in the market, the competition will continue to grow. The higher competition along with rising customer demands compel businesses to improve customer experience. In competitive markets where the customers have multiple choices, even a single bad interaction is enough to repel your customers. Therefore the customer experience is emerging as one of the major differentiator for customers.
In fact there are several studies suggesting that present day customers value experience more than the money or cost. A self-service payment kiosk is capable of delivering satisfactory customer experience with its ability to significantly reducing wait time and offering intuitive UIs with on-screen prompts and multilingual support, these devices can deliver best customer experience.
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Demand for Superior Customer Experience
Rising Demands for Convenience and Personalization
Remember the biggest appeal for customer to go for a self-service solution instead of traditional service channels is the convenience and control. Customers love shorter wait time and quicker service delivery, the self-service empowers them and give them more control over their interaction. Moreover consumers in general tend to be more confident in sharing their important data through an automated system rather than to human staff. This is what will further increase the demand of interactive self-service payment kiosks.
The personalization is also a huge factor in improving customer experience. Customers love personalized experience, when the system behave as per their expectations according to their profile, demographics, preferences, and past interactions, etc. Hyper personalization and superior convenience both have incredible potential to increase customer retention and loyalty. The interactive self-service payment kiosks management software leverage AI to deliver superior hyper-personalized customer experience.
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Rising Demands for Convenience and Personalization
Rise in Contactless Operation and Voice-Activated Features
The interactive self-service payment kiosk is a very transformative technology which is also evolving on a rapid pace. The frameworks, software and hardware technologies are rapidly evolving and improving which is paving ways for more innovation and higher efficiency. The contactless payment operation and voice-activated features will surely going to add more value to customer convenience and security. The global health landscape has tremendously accelerated the adoption of contactless technologies. The self-service payment kiosks are also expected to have these features in future.
The NFC, RFID, and wireless communication devices are most likely to be adopted in self-service payment kiosks. Moreover the voice-activated features are also going to make a huge impact on self-service payment kiosks. The present day’s LLM, AI and ML models are fairly advanced to build these features and soon we will be seeing more advancement in these technologies to improve voice-activated features and contactless operations.
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Rise in Contactless Operation and Voice-Activated Features
Rising Demand of AI-Integration and Smart Features
The AI or Artificial Intelligence is a huge buzz word these days. The modern interactive self-service kiosks are already utilizing AI in some context. However, the AI is not a fully dominated technology yet. The AI have extraordinary potential to simplify user experience and improve business operation efficiency. The AI can be used in both frontend and backend to add value for both customers and management. One of the biggest use of AI in personalizing customer experience.
The modern AI in many shapes can improve customer experience, such as it can hyper personalized customer experience and guide them throughout their journey. The AI can also empower management by offering them advanced management tools, superior analytical data and insight collection tools. Integrating AI in interactive self-service payment kiosk can offer many benefits. Businesses can use the AI to collect and process analytical data and generate actionable insights to empower their decisions. Soon we will be witnessing rapid adaptation of AI and smart devices across all industries.
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Rising Demand of AI-Integration and Smart Features
Rising Need of Integrated Solutions and Centralized Management
Businesses are adopting technologies which can improve their internal operation and drive efficiency in business processes. Businesses can have multiple branches, these all branches have local management and a corporate or head office management. The need for a centralized management is increasing day by day. The management require quickest access to information to take quick actions. The self-service payment kiosk can offer a centralized management platform which is built on a server-side application.
The server is connected to all self-service payment kiosks in the system, which can relay information in real-time and made insights and analytical data available for the management for all branches. Similarly the in order to improve efficiency businesses require an integrated solution which ensure seamless flow of data and information to avoid manual or repetitive work. The self-service payment kiosk can easily integrate with third-party business tools, core business apps and even cloud solutions as well.
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Rising Need of Integrated Solutions and Centralized Management
Conclusion
The interactive self-service payment kiosks are not just another step toward modernization or an image building tool, but it has emerged as one of the most important strategic tool. There is a wide range of businesses who are utilizing interactive self-service payment kiosks. However, most of the businesses are either unaware or either not interested in utilizing the full potential of these remarkable machines. The technology evolves on a rapid pace, especially in the past decades we have witnessed huge advancements in information technology and business solutions. When it comes to customer services, the payment is a most significant bottleneck. Traditionally the payment process is slow, usually businesses have least cash counters than the others, which also results in longer queues at cash counters comparing to other service counters. That is why businesses start deploying interactive self-service payment kiosks.
These kiosk where distribute the workload of traditional service agents, has also potential to greatly improve customer experience. That is why day by day more businesses are either adopting these solutions or at least planning to implement a self-service payment kiosk. That is why we discussed the future trends that are most likely to be widespread in the coming future. There are many factors that are encouraging businesses to adopt and implement modern technological solutions. When it comes to interactive self-service payment kiosks, the rising labor cost, market competitiveness, increasing demand of better customer experience, emerging trend of hyper personalization, advancements in AI (artificial intelligence) and contactless technologies are the major factors that will explode the adoption of these kiosks.
Businesses are also facing many challenges such as improving customer experience, expediting service delivery mechanisms, increasing complexity in the management processes, rising demand of integrated IT ecosystem and rising labor cost. An interactive self-service payment kiosk can offer solutions to all those problems and not just that, it can also help empowering overall business efficiency and profitability. In this blog we have discussed the future trends in interactive self-service payment kiosk. If you want to learn more about the subject or if you want us to help you implement a tailor-made futuristic self-service payment kiosk for your business or organizations, please feel free to contact us through our Contac Us page and leave a comment in the comment box below and we will get in touch with you soon.
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