Month: April 2024

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UK businesses must prioritise payment technology to build customer loyalty and stay competitive: New research from Lloyds Bank and FreedomPay

London, United Kingdom, April 23, 2024 (GLOBE NEWSWIRE) —
  • Less than a third (27%) of businesses are confident they offer seamless payments experiences.
  • Almost two-thirds of businesses (59%) across Retail, Food & Beverages and Hospitality believe a good checkout experience offers the same competitive advantage as having the best products.
  • Customer preference is the factor most likely to influence businesses’ investment in payment technologies.

New research from Lloyds Bank and FreedomPay highlights the importance of UK businesses investing in new payment technology.

Two-thirds (59%) of UK Retail, Food & Beverage (F&B) and Hospitality companies were found to already put payments at the heart of their customer experience strategy, reflecting the growing importance of payment options to customers.

For retail-focused businesses, 59% believe that a good checkout experience is essential to building customer loyalty, with respondents believing it is as much a competitive advantage as having the best products.

Meanwhile, 57% of retailers said that a poor payment experience could have a detrimental effect on their business, pushing customers to competitors who offer a better experience.

The findings come as payment infrastructure is increasingly viewed as a critical part of customers’ shopping experience. As high inflation takes its toll on both independent venues and enterprise chains, this research demonstrates the need for businesses to prioritise customer satisfaction and build brand loyalty.

A Chip Off the Old Block

However, despite understanding the importance of providing a good payment experience for customers, making this a reality appears to be a challenge for many businesses.

Half of all business surveyed (49%) said they had not invested in payment solution updates at all, and only 27% of respondents felt confident in their omnichannel payment experience offering.

This disparity highlights that businesses have a lot of room for growth, as investment in new payment technology could lead to significantly enhanced customer experiences and result in increased sales.

Data leads to better customer engagement

Other findings highlighted how businesses are using data, with many understanding that payments data can help them to make more informed decisions. 80% of respondents said they are using payments data to learn more about their customers to tailor services and products for them, which can be crucial to maintaining customer engagement and driving brand loyalty.

FreedomPay’s President Chris Kronenthal said:
“What is evident from our research is that brands must focus on payments innovation now more than ever. Understanding what customers expect and want from a payment experience is fundamental to ensuring that customers keep coming back. Choosing the right payments partner can support strategic business decisions and streamline checkout to help to deliver a personalised, seamless, and data-driven experience any time, any place.”

Melinda Roylett, Managing Director, Lloyds Bank Merchant Services said:
“The way we pay has undergone rapid shifts in the past few years. Accelerated by the pandemic, technological advancements and innovative ways of using open banking have led to the increasing adoption of contactless, digital wallet solutions and embedded finance options such as Buy Now, Pay Later. Consumers now have more choice than ever. This means that businesses also need to think about how they use the payment experience at checkout to build business growth.”

We hope you enjoy the full Report at lloydsbank.com/paymentsinsight

ABOUT FREEDOMPAY

FreedomPay’s Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce. The company maintains a world-class security environment and was first to earn the coveted validation by the PCI Security Standards Council against Point-to-Point Encryption (P2PE/EMV) standard in North America. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. www.freedompay.com

ABOUT LLOYDS BANKING GROUP

  • Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers.
  • We are proud to be by the side of British business, supporting more than 1 million UK businesses with leading digital and relationship banking services, as they start up, grow, thrive and trade internationally.
  • As part of the Group, Lloyds Bank Cardnet Merchant Services offers leading end-to-end payment acceptance solutions. We help businesses from all parts of the UK, and across all different sectors and sizes, giving them the support they need to take payments online, in store, or over the phone at any time.
  • For more information on how we help businesses to receive payments please visit: www.lloydsbank.com/cardnet

Attachments

Adam Charles, Media Relations
Lloyds Bank
0207 356 2374
[email protected]

Hill & Knowlton for FreedomPay
freedompayUK@hillandknowlton.com

GlobeNewswire Distribution ID 9104694

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Otjozondjupa ECN officers meet with political party representatives


Officials of the Electoral Commission of Namibia (ECN) in the Otjozondjupa Region on Tuesday held an information sharing meeting with a group of different political party representatives at Otjiwarongo.

Political party members that attended the meeting are from Swapo, the United Democratic Front (UDF) and Landless People’s Movement (LPM).

Various church organisations, the regional directorate of education, arts and culture, government garage, regional council officials and members of the Namibian Police Force also attended.

ECN Otjozondjupa Regional Electoral Officer, Victoria Amutenya introduced to the meeting the seven constituency supervisors of voter card registrations for Otjiwarongo, Otavi, Grootfontein, Tsumkwe, Okahandja, Omatako and Okakarara.

Amutenya further shared the voter education calendar dates for each constituency, saying the voter education officials are now busy disseminating information in the Otjiwarongo Constituency until 27 April 2024.

Okahandja is next, followed by Omatako, Okaka
rara, Otavi and Tsumkwe last on 20 June this year, said Amutenya.

‘We therefore urge everyone present to this meeting to go out and share the information about the voter card registrations which will start on 03 June to 01 August 2024. Since there will be no supplementary registrations, all Namibians above 18 years should acquire their voter cards within 03 June and 01 August this year, besides that they will not be allowed to participate in the elections,’ she said.

Amutenya further called on the political parties themselves to also mobilise their members to go and register for the voter cards.

She concluded by telling the meeting that all eligible Namibians on 27 November 2024 will be expected to cast their votes using ballot papers in the Presidential and National Assembly elections.

Source: The Namibia Press Agency

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TKC cyclists enter Namibia


Twenty cyclists riding for the Trans Kalahari Corridor (TKC) initiative on Tuesday entered Namibia from Botswana through the Trans-Kalahari-Mamuno Border Post in a challenge that started earlier this month in Rustenburg, South Africa.

The cycling event was initiated to raise awareness of the TKC regionally and internationally, with the objective of securing the three member states’ commitment to economic progress through spatial development initiatives along the corridor.

The initiative also aims to promote road safety on the corridor, reduce delays along the route, address security concerns, and commemorate the 20th anniversary of the TKC, among others.

The Namibian Minister of Works and Transport, John Mutorwa receiving the cyclists from his Botswana counterpart, Eric Molale, highlighted the importance of connection between countries and how the initiative will improve the economy of the three member states.

‘I want to highlight how transport infrastructure are vital for development, thus, it is clear t
hat since independence of our country, Namibia has improved drastically on road infrastructure, that has given birth to initiatives of this magnitude between our countries with the aim of also expanding this initiative to other countries in Africa,’ Mutorwa indicated.

Mutorwa urged those along the route of the cyclists in the country to give them good hospitality and welcome them in their towns and villages.

Handing over the cyclists to Mutorwa, Molale, the Botswana Minister of Transport and Public Works touched more on the relationship between the three member states, and assured his Namibian counterpart that his country is committed to the initiative, and wished the cyclists well as they continue with their journey through Namibia.

‘I am here to hand over the cyclists that I have been taking care of for the last seven days, who are carrying along the pledge of the TKC that entails that we must be a united people, we must be allowed to move freely across our region, we must harmonise our processes and pro
tocols that facilitate free movement, and we must invest along the corridor,’ Molale highlighted.

The cyclists are expected to reach their final destination Walvis Bay later this month and the Namibian route will feature seven public engagements with various stakeholders.

Source: The Namibia Press Agency

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Swapo activate its election campaign machinery


WINDHOEK: The ruling Swapo Party activated its election campaign machinery on Wednesday by convening a preparatory workshop in the capital for all its district coordinators and mobilisers.

The party gathered its functionaries from all 121 districts across the country in preparation for the Presidential and National Assembly elections set for November this year.

Speaking at the opening of the workshop, Swapo Vice-President, Netumbo Nandi-Ndaitwah, said the event is organised to empower the party functionaries with essential campaign tools.

‘We are here to prepare ourselves for the upcoming Presidential and National Assembly elections. As we gear up for those elections, we must get prepared in such a manner that we leave no stone unturned.

‘Our ultimate goal is to ensure that we bring back the Swapo Party to its glory, by reclaiming what we have lost in the last elections.

‘It is therefore my great pleasure to officiate at this very important workshop as we activate the campaign and mobilisation machinery
of the Swapo Party for the Presidential and National Assembly elections,’ she said.

Nandi-Ndaitwah, who will be the Swapo presidential candidate, noted that the elections scheduled for 27 November 2024 demand extraordinary efforts and dedication from party members.

‘This means the structures of our party at all levels must be ready to ensure full mobilisation of our members, supporters, and sympathisers to vote for the Swapo Party come election day,’ she said.

Nandi-Ndaitwah told the participants that the election campaigns have already started since the Electoral Commission of Namibia released its electoral calendar.

‘With the launch of the election calendar by the ECN, that has signaled the opening of the campaign and we have seen increased political activities in the area,’ she said, while commending the party’s regional leaders about the recruitment drive efforts.

Nandi-Ndaitwah also informed the delegates that the party is finalising its 2024 election manifesto and the unveiling of the party’s candi
dates for the National Assembly elections.

Source: The Namibia Press Agency

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Don’t politicize the drought relief programme: Nandi-Ndaitwah


WINDHOEK: Namibia’s Vice President, Netumbo Nandi-Ndaitwah, on Wednesday urged leaders of her ruling Swapo Party to refrain from politicising the government’s food aid programme in light of the impending drought.

Addressing the party’s workshop for delegates from 121 districts, in preparation for the 2024 Presidential and National Assembly elections set for November, Nandi-Ndaitwah cautioned them not to discriminate against non-Swapo members when it comes to providing drought relief.

‘Therefore, as leaders, you are expected to know the needs of your communities irrespective of their political affiliations. We need all Namibians to survive, and that’s why as your vice president, I am saying we should not politicise the drought relief programme.

It is for all of us because as the elected party in this government, we are to take care of all Namibians wherever they are, and you cannot deny people food,’ said Nandi-Ndaitwah, who is also Swapo’s vice president.

Namibia and other countries in southern Africa are
currently experiencing a severe drought caused by a significant decrease in rainfall in the region.

The Ministry of Agriculture, Water, and Land Reform estimates a poor harvest in all crop-producing regions in the communal areas. In its crop prospects, food security, and drought situation report for March 2024, the ministry noted weakening household food security in the seven northern regions.

This is due to reduced agricultural production recorded in the 2022/2023 season. The ministry noted that many households in the main crop-producing regions are reported to have used up their food reserves from the previous season. As a result, they are now relying on the market and drought relief food for their sustenance.

Additionally, the food security situation in southern, eastern, western, and central Namibia is also dire due to the prevailing drought conditions.

These areas are predominantly inhabited by livestock farmers who depend on livestock farming as their main source of income.

However, the pasture in
these regions is insufficient and of poor quality, making it difficult to adequately sustain their livestock, the report indicated.

Nandi-Ndaitwah informed the party’s district coordinators and district mobilizers that government has therefore put in place measures to ensure that all Namibians in need of food assistance are catered for.

However, she appealed to those in a position to assist themselves not to take advantage of the food relief program. ‘That’s why we say those with an income, please meet your government halfway by taking care of yourself and let the government take care of the others,’ she said.

Source: The Namibia Press Agency

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Nzimande commends SETAs role in facilitating skills development


Higher Education, Science and Innovation Minister, Professor Blade Nzimande, has commended the crucial role played by the Sector Education and Training Authorities (SETAs) in the country’s skills development.

‘As the Department of Higher Education and Training, we are proud to state that while we provide the overall strategic and policy direction, our SETAs continue to play a crucial role in implementing and facilitating skills development within their respective sectors,’ Nzimande said.

Speaking at the SETA Skills Summit currently underway in Boksburg, Gauteng, Nzimande said through their sector-specific focus and experts, SETAs contribute significantly to addressing skills gaps, skills mismatches, promoting employment and enhancing productivity within their respective industries.

‘Our SETAs also play a crucial role in aligning training and development efforts with the needs of employers and the labour market, thus ensuring the development of a skilled and capable workforce that can become a catalyst for
economic growth and development.

‘The policy context for the work that is done by our various SETAs derives from such critical policy instruments as our country’s Master Skills Plan, the White Paper for Post School Education and Training, the National Skills Development Plan, and the National Development Plan 2030,’ Nzimande said.

The Minister reiterated that the policy instruments are not only critical for enabling the country to articulate and implement a coherent human resource development plan, but it also ensures that “we embrace a skills development approach that is collaborative and sustainable, as opposed to a piecemeal and competition-driven approach’.

Held under the theme, ‘Together, Skilling the Nation”, the two-day summit aims to provide an opportunity for the sector to reflect on its execution of the mandate of skills development.

Nzimande said the collaborative approach is important, considering the unacceptably high number of unemployed young people in the country, and the urgent challenge
of people who are ‘Not in any formal Education, Employment, or Training (NEET)’.

‘It is estimated that more than 3.3 million young people in our country between the ages of 15-24 are not in employment, education, and training and unemployed. This is something that must concern all of us.

‘It is therefore understood that a collaborative approach will ensure a coordinated and targeted approach to skills planning, funding, quality assurance, and monitoring, resulting in a skilled and competitive workforce that contributes to economic growth and social development,’ Nzimande said.

The Minister also encouraged SETAs to focus on high impact areas, including infrastructure development for the provision of service delivery; significant reduction in unemployment including graduates; sustainable entrepreneurship and cooperatives which promote elf employment; and fundamental rural development.

He also urged them to focus on digitisation and the advancement of technological infrastructure and development to benefit t
he country, and effective and efficient shared services on information and communications technology.

Source: South African Government News Agency