Uncovering the evolving meaning of cash.
WHAT WE WORKED ON TOGETHER
Product and Service Innovation Strategy
Deep Customer Insights
Cardtronics, a leading owner of bank ATMs, had historically focused on deepening relationships with its strategic partners – the big retailers who wanted to offer their customers an easy way to access cash. However, as ATMs in such locations became ubiquitous, company management concluded that they needed to augment their focus to include the end-users of the machines.
Understanding how people’s perceptions about cash is evolving and meeting them where they’re headed is key to encouraging greater use of the machines.
SOLUTION AND RESULTS
Scansion explored the evolving meaning of cash vs. other payment systems in four countries - Australia, the United Kingdom, Canada and the US, both qualitatively and quantitatively.
Based on that work, which was shared with the Federal Reserve as well as retailers in the four countries, we learned that cash still has many desirable qualities that should continue to make it a payment system of choice in the future.