About
Easy Pay National Bank transforms a smartphone into a payment terminal without the need for any additional hardware.
Innovation presentation
The Easy Pay solution is a natural enhancement to a traditional point of sale solution as it offers mobility paired with convenience in areas where other solutions lack. Because clients do not need to manage any additional hardware dongles or carry cash to accept payments, the solution is ideal for all segments where cash or cheques are typically the main methods of payment. National Bank of Canada is the only financial institution in Canada to offer this solution.
Easy Pay has helped non-profit organizations and clients arrive closer to their goals during fundraising campaigns and events by offering the possibility to donate funds or complete a transaction using a credit card or digital wallet.
Uniqueness of the project
By simply downloading the application from the Google Play Store, Easy Pay clients transform their smartphones into a payment terminal without the need of any additional hardware compared to other available solutions. Bring Your Own Device philosophy, no more cumbersome payment terminals or dongles. Easy Pay is a fast, simple, secure and mobile solution which allows merchants to have all the flexibility they require in their respective markets. Typical examples include Flea markets, small retailers, tutoring/lessons, sole business owners as well as small businesses where carrying hardware, along with the associated fees to accept payments, is simply not an acceptable solution. Easy pay offers an incremental solution in point of sale offerings. NBC’s value proposition is to offer the simplest, most accessible and modern products to our entrepreneurial clients.
In-Depth Analysis
The Reason Behind
This solution fulfills the need for convenience in accepting payments. Easy Pay National Bank enables small businesses to accept contactless payments anywhere from anyone, quickly and easily, from a smartphone, without investing in expensive payment terminals and removes the necessity to carry cash. Because the use of credit card transactions is continuously on the rise, this help merchants to not lose transactions by accepting cash only.
Results
By offering an innovative, easy, point of sale solution, we improve our brand positioning and consequently, customer loyalty as we become partners with our clients by being present in their day to day operations. The user experience is optimal and once the solution is implemented and tried, the ease of use and convenience becomes a step forward in right direction for any merchant looking for mobility paired with a digital payment acceptance solution. The initial reaction from our client is strong, our marketing campaign is still ongoing with over 413 000 view on social media in 3 weeks.
The Easy Pay app earned the “Most innovative product/feature award” in Barlow Research’s 2018 Monarch Innovation Awards.
Key Dates
- Launch date 1 January 2018