Newport-based retail services firm Retail Merchandising Services is launching its pioneering new smartphone app, which turns mobile phones into cash registers, for the first time in Wales.
The Costcutter store, based at the Students’ Union of Swansea University, will go live with the innovative ‘Mini Checkout’ app today, allowing it to offer a queue-free experience to students who can now scan, bag and go.
The app allows shoppers to scan items’ barcodes and directly charges their bank account, saving the time that would have been spent queuing in store, ensuring a more convenient, less stressful shopping experience.
After downloading the app, consumers are asked to input their bank details into a secure database. Then, when shopping, they can quickly pay for the items in their ‘basket’, using their stored debit card details. When exiting the store, shoppers then scan a generated barcode on their smartphone against an optical scanner to verify their digital receipt for security purposes.
With fees charged by credit cards companies to retailers ranging from up to 2.5 per cent per transaction, this technology – available on Android and iPhone- only takes 1.5 per cent of each transaction, with the remainder going to the retailer.
The app, which is being targeted at Britain’s 47,000 independent retailers, is being unveiled by veteran Welsh sprinter Christian Malcolm, who has joined the RMS team following his retirement from athletics.
Mr Malcolm, who started his professional career in 1998, ran his last Welsh Athletics International race in August. He will now embark on the next stage of his career as an ambassador for RMS, alongside CEO Peter O’Toole and CEO of the Celtic Manor resort Dylan Matthews.
Four-time Olympian Mr Malcolm will spearhead the marketing and rollout of Mini Checkout, with RMS aiming to export the technology globally.
The firm, which increased sales by 229 per cent between 2010 and 2012, won the ‘fastest growing firm in the retail and wholesale sector’ award at the 2013 Wales Fast Growth 50 awards and is targeting increased sales this financial year.