How personalised payments transform customer experience

In the pursuit of customer retention, a golden rule is to prioritise your customers’ needs. Are you currently offering personalised payments for your customers to enhance their shopping experience?

For instance, Jenny, a young professional, seeks a fitness tracker. She finds one online but faces limited payment options at checkout—credit card or bank transfer only. Without a credit card and finding bank transfers cumbersome, she abandons her cart without hesitation.

What is the secret to maximising personalised payments? It is leveraging data to understand your customers’ preferences. By analysing demographics, location, and past purchase behaviour, your business can anticipate customer needs and tailor a personalised payment that resonates. 

Understand consumer payment trends

In Southeast Asia’s booming digital market, understanding customer preferences ensures inclusive and seamless payment – a critical factor for business success. It drives:

  • Sales boost: Diversifying payment options expands your business’ reach and elevates sales + customer satisfaction.
  • Cart abandonment reduction: Understanding customers’ preferred payment methods reduces abandonment rates caused by limited options.
  • Building loyalty: Providing familiar and convenient payment methods fosters trust, encourages repeat purchases, and nurtures customer loyalty.

Moreover, understanding customers involves ensuring financial inclusion, which is crucial in regions like Southeast Asia with limited digital banking. Offering diverse payment options may help:

  • Reach the unbanked: While digital payments are trendy, going exclusively cashless may limit customer access.
  • Empower segments: Tailor payment methods for diverse demographics. For example, serving tech-savvy youth with digital wallets while offering cash on delivery (COD) for others will ensure inclusivity.

Customer preferences in Singapore and Southeast Asia

In Southeast Asia, the payment landscape is multifaceted. By 2025, the region is projected to reach 439.7 million active wallets, a 311% increase from 2020, positioning it as the fastest-growing mobile wallet region. E-wallets thrive in the Philippines, Thailand, and Vietnam, expected to surpass cards by 2026. 

In Singapore, credit/debit cards dominated 38% of transactions in 2020, projected to continue until 2024, while cash usage declines to 26%. Digital wallets are on the rise to 20% by 2024. Malaysia sees a significant growth in digital wallet usage, indicating a regional shift towards digital payments.

Source: Komoju, with statistical data from Market share of payment methods in total e-commerce transaction value worldwide in 2022, by region

Meanwhile, Cash on Delivery (COD) continues to hold its ground in certain countries, especially for social commerce transactions.

Understanding customer payment preferences helps unlock markets, builds relationships, and promotes financial inclusion in Southeast Asia.

Transform customer experience via personalised payments

Speed and convenience

While shopping in-store, your customers can enjoy seamless checkout experiences by using their preferred e-wallet or contactless card, avoiding form-filling and long waits.

For online shoppers, Pay by Link offers secure, personalised payments. This unique feature sends a secure payment link directly to customers’ mobile phones or emails, eliminating the need for manual entry. With one click, busy bees who prioritise convenience can swiftly complete purchases.

Safe and secure transactions

Security is paramount for payments. Personalised options like dynamic QR code payments offer enhanced protection to your customers. Each code is unique per transaction, thwarting fraud attempts.

Additionally, Qashier dynamic DuitNow QR utilises Malaysia’s trusted DuitNow system, ensuring a familiar and secure payment experience. With real-time transaction confirmation, your customers can shop confidently with peace of mind.

Empower customer experience

In the past, large purchases often strain customers’ budgets. The in-trend buy-now-pay-later (BNPL) personalised payments allow your customers to split their purchases into manageable instalments. Customers find high-cost items more affordable when they can pay for them over several months.

2021-2026 BNPL e-commerce spending in Southeast Asia countries forecast

Source: Statista 2024

Numerous BNPL providers offer transparent payment schedules, aiding customers in budgeting and curbing impulse buys. With minimal upfront payments, your customers have more budget for other expenses, enabling wiser spending and smarter buying decisions. 

Additionally, customers receive immediate notifications on their mobile phone or email after each transaction. This keeps your customers informed of their spending activity, fostering greater transparency and trust.

Coming up next…

On our next blog, see how you can harness the power of personalised payments and how it can benefit your business.

More about Qashier

Qashier offers multiple digital solutions, including QR code table ordering, table management (F&B), employee management, customer relationship management (loyalty programs), inventory management, data analytics, and cashless payments, in an all-in-one device.

Qashier promises a seamless setup within 10 minutes, without the need for technical expertise. It boasts a user-friendly interface that is simple for anyone to learn and use. If you require assistance, you’ll find 7 days-a-week responsive technical support from your local team.

Try the Qashier app for free on your own Android device! Alternatively, you can speak to us to see how Qashier can meet your business needs. Schedule a meeting with us here, WhatsApp (+60) 12 660 2741, or email [email protected].



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