Seven seconds faster - Z Energy
For Z Energy, a small number is a big deal. Contactless payment technology is saving seven seconds on every transaction, and it’s paying off for both Z and its customers.
Sixty million transactions, of which nearly $500 million are paid for using debit and credit cards, are made every year in Z service stations. Z sells fuel as well as store goods including a lot of pies - the equivalent of 11 Sky Tower’s worth a week if the pies were stacked on top of each other. “We see everyone who has a car and everyone who wants food,” says Tim Dryburgh, Z’s Asset Manager.
Of Z’s 200 service stations, 130 are open 24/7. “From 6am it’s all on, with pies baking, coffee brewing and workers calling in. It’s then consistently busy from 9am until 7pm. Weekends are a bit different, as it’s a later start for most with people going off to sport,” explains Tim.
Four years ago, Z ‘switched on’ and introduced contactless card technology to all of its stores.
Z’s average transaction value is lower than you might think; $55 for a credit card and $35 for a debit card – meaning most people can just ‘tap and go’, or for transactions over $80, ‘tap and PIN’.
“Contactless payments are easy and simple and most importantly, we’re able to give our customers a choice about how they pay."
Switching on the contactless capability means that, on average, every transaction at Z is now seven seconds faster than it was 4 years ago. “At peak times, when you’re under pressure and there are queues forming, that’s a significant amount of time saved across the huge number of customers that shop with us. It’s really helped us to deal with queues.
“Using contactless payments, we can get through more customers and reduce waiting times. It’s a win win.
If you can fit in more transactions, you fit in more sales. It’s an ideal product for businesses that have a short window of time to make sales or those who have a large number of transactions. And in our case, it has reduced our merchant service fee costs as customer have shifted from Credit to Debit card for payments.
Contactless payments are a wonderful thing for us. Priceless.”
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