BuyLottoNow has unveiled a new cashless payment platform that allows convenience stores to accept payment for draw games and scratch off tickets easily on a mobile phone with a seamless interface into existing POS terminals.
In addition to featuring no processing fees, the decoupled debit mobile payment platform makes lottery a potential winning loyalty program that can drive increased in-store foot traffic through merchant branded no cost email campaigns. This has been done due to the platform’s knowledge of a retailer’s lottery players and as such it can target such products as gas and merchandise offers to these customers.
Joe Randazza, CEO of BuyLottoNow, stated: “The BuyLottoNow solution eliminates the transaction fee for the retailer which is their number one concern. In fact, it may very well be the first time a payment system isn’t charging the fee to the retailer. Plus, the extra benefit of a loyalty engagement program makes participating retailers a VIP destination for lottery players.
“Cash is suppressive to the impulse of high jackpot games or $20 scratch off tickets. Cashless payment will bring a lift in sales and commissions.”
As it stands, online lottery sales are in their infancy with approximately $2bn in sales, with it being estimated that the 13 US states currently selling lottery products online will reduce c-store retailers’ commissions by $126m this year alone.
The COVID-19 health pandemic has caused a digitsation acceleration across the country as more states look to move online thus pushing projections to $262m in reduced commissions to retailers by 2025.
Randazza also revealed that a convenience fee of $0.30 per transaction will be charged to the consumer for the convenience of paying for lottery products with their phone, with the CEO adding: “By making lottery a winning loyalty program, c-stores can retain current customers and reduce or offset the loss in in-store traffic from online sales.”