Electronic payments are at an all-time high in the UK, fuelled by the shift to online shopping brought about by the Covid-19 pandemic. The UK Payment Markets 2021 report, released in June, revealed that the number of people registered for mobile payments increased by 75% in the last year to more than 17 million – more than a quarter of all adults are now using mobile payments. E-wallets such as Google Pay and Apple Pay are gaining popularity in the upward trend in which cash ebbs in favour of digital transactions.
The private sector has embraced these new methods as it improves the customer experience and sales. While the public sector may not look at increased sales as a priority, the benefits to them are reduced back-office costs.
This ‘new normal’ of payments is challenging public sector services to adapt their infrastructure to deal with cashless citizens who seek to have a broad range of payment options. Traditional bank or credit cards are well established as public sector payment methods, but many consumers now favour e-wallets – and less than 15% of public sector organisations have the ability to accept e-wallets payments to date.
Consumer satisfaction is driving this evolving payment landscape because consumers have come to enjoy the benefits of dealing with a single platform for all their purchases – be it at point of sale or online. And merchants are also ripping the benefits of seamless, faster and reliable transactions.
Catch up with this webinar to find out what this shift to online payment and the popularity of e-wallets mean for the public sector, and explore how innovation on the payment front brings opportunities for reducing costs, efficiency gains and improving the customer experience.
- The shift in thinking about how payments and payment strategy works
- The effect of the increasing uptake of digital payments in the UK’s public sector
- Managing citizens and taxpayers’ expectations when dealing with public services
- How public sector organisations can balance value for money, providing citizens and taxpayers with an improved customer experience
- Lessons learnt in the private sector: drawing on experiences from Facebook, Uber, Spotify, and more
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