Market Research Study Finds that 51% of Convenience Store Customers Ask For Prepaid Products

TORONTO, March 6, 2018 /CNW/ - Today Now Prepay, by Payment Source, is happy to announce its silver sponsorship of the 2018 Convenience U CARWACS Show, happening March 6-7, 2018. Recognized as the largest trade event in Canada for the Convenience Store, Gas, and Car Wash industries, Now Prepay will have an enhanced presence at this year's show.

Grace Caputo, General Manager of Now Prepay, will present in partnership Peel Police on ways convenience store retailers can protect their business and employees from fraud. The recent National Survey of Independent Convenience and Convenience Gas Retailers, commissioned by Now Prepay, shows that 75% of respondents believe that prepaid program providers are doing a good job helping to prepare their merchants.

Equipping stores with the education and tools needed to help combat potential fraud is vital as the popularity of prepaid products continues to rise with consumers. An additional finding of the National Survey found that 51% of customers visiting a Convenience Store ask staff directly for prepaid products, and  54% of survey respondents have added prepaid to their store because they knew the category would increase foot traffic into the store. This survey further found that the addition of prepaid products to a store can raise store revenue by as much as 9%.

"Prepaid continues to show year over year how vital it is for Cstores to offer the category," said Caputo. "It's no longer a conversation of 'should we add a prepaid program', rather it's a question of 'what kind of program would work best for the store'.

The recently announced roll out of Amazon Cash, a solution that lets consumers add funds into their Amazon account at a retail location to be able to use cash or debit for their online Amazon purchases, has further enhanced the overall offering and value of a Now Prepay program for participating retailers.

"The additional value add services, such as Amazon Cash, currently only available to Now Prepay retailers, make our service offering to Cstores unique in the marketplace," Caputo continued.

Now Prepay will be exhibiting at CARWACS booth number 509.

Learn more about Now Prepay at: www.nowprepay.ca.

About Payment Source

Payment Source is the premier alternative payments provider in Canada. Offering white label payment solutions and customized card services to enterprises, digital businesses, and government organizations, Payment Source has an unmatched retail distribution network across Canada. Whether it's in-person payments, mobile wallets, general purpose reloadable cards, travel prepaid cards, mobile top-ups, or gift cards, Payment Source creates the ideal customized alternative payment program for organizations of all sizes by enabling its partners to reach and service new customers and markets.

SOURCE Payment Source

Press Contact: Allison Cutler, Director, Marketing & Communications, Payment Source, [email protected], 416.255.8897