Mobile Payment Means Millions of New Customers
Mobile payment options have a tremendous potential that is to be fully unleashed in the coming years. This is especially relevant when it comes to direct carrier billing and its advantages before the online food delivery business.
Knowing all that well, we, at Siru, started developing innovations for the digital food ordering platforms in Finland back in 2010. Following a major update in 2017, we are now launching our new food delivery payment product in the United Kingdom.
Food delivery apps and websites such as Delivery Hero and Seamless have simplified the ordering and delivery process. However, they are still struggling to offer diverse payment options and thus missing out on customers. Same goes for many fast food and restaurant chains in the country that fail to keep up with the mobile generation’s pace.
On the other hand, direct carrier billing reaches one and a half times as many consumers as credit cards and over four times as many as PayPal, which makes it the best payment portfolio improvement. With over 85 million active mobile subscriptions in the UK alone, pay-by-mobile has the largest share of users of any digital payment option in the country. That means business can reach 93% of all adult Britons by including a carrier billing option at checkout – an additional 47% when compared to a stand-alone credit card option.
How does Siru DCB work?
Our direct carrier billing product allows customers to place an order in a quick and simple one-click transaction without sign-up or entering any sensitive information as personal or credit card data. The cost is then charged to the customer's’ mobile phone bill, or taken from the available credit if they are on a pay-as-you-go tariff.
Protecting merchants’ interests is one of our top priorities and therefore we have developed a unique risk management feature that guarantees all payments through the system get handled in a fast and safe manner.
What are the main advantages for the business?
● Direct operator billing opens up new horizons to the food ordering industry by reaching larger addressable markets: Many people are now on the sidelines of the service due to either being unbanked* (low income, rural, teens, etc.) or fearing to transact online with one’s personal financial account information. At the same time carriers record near ubiquitous billing reach.
● Greater customer scope means greater revenue: Nearly all merchants that have introduced this alternative payment method to their business realised a 10-to-30% lift in revenues.
● A vastly superior conversion rate of direct carrier billing over credit card and other payment options (sometimes as much as five times higher).
Even in countries with strong credit card penetration as Britain, direct carrier billing proves to be very successful in addressing new customers. Furthermore, it creates both an improved customer experience and a more profitable restaurant operation.
So how can you best jump on such opportunity? Come meet us at our booth and learn more about our products and how they can benefit your food business starting today.
*did you know that 30% of miniature loans are spent on groceries?
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