The Aite Group has released a new study, “Biometric Payments and Rewards: A Case Study,” that discuses the roll-out of Pay By Touch technology at Green Hills grocery in Syracuse, NY.
“Given the economic context in Syracuse, NY, Green Hills’ pre-existing high average sales per square foot, the sophistication of the previous loyalty program, and the store’s stagnant top-line sales in the years leading up to SmartShop’s roll-out, the impact of SmartShop on Green Hills’ financial performance is impressive,” says Gwenn Bzard, a research director at Aite Group and the author of the case study.
Nine months after the introduction of SmartShop, 25 percent of Green Hills’ sales were made via biometric payments and 28 percent of those were processed through the Automated Clearing House (ACH) network.
In the United States most retailers lack sophisticated loyalty programs, according to Aite Group. Most of them are tied to private-label credit cards or dual cards.
The case study states that the developments of private-label merchant debit/prepaid payment and reward programs may be a significant trend that can reverse the lack of loyal programs.