Member Article

Droplet arrives in Exeter to boost independent businesses

Retailers, bars and coffee shops in one of Exeter’s leading independent shopping streets will be among the first businesses in the UK to take advantage of a mobile payment and loyalty app launched this week.

‘Droplet Rewards’ - the brainchild of tech entrepreneurs Steffan Aquarone and Will Grant - is offering firms in the City the chance to take advantage of the world’s only fee-free system with payment made simply by the tap of a button.

Merchants can now go one stage further and give customers the opportunity to collect rewards on their phone, creating their own loyalty scheme for a fraction of the cost normally involved.

Nearly 20 local retailers on Fore Street have already signed up be part of the ‘Droplet Rewards’ rollout, including Bunyip Beads & Buttons, The Glorious and No Guts No Glory.

In a concerted drive to ‘buy local’, the app has contributed towards the development of banners and a new street map designed to drive footfall and business to this part of the City.

“Exeter has a vibrant food and drink scene and a strong community of independent retailers, who have realised the benefits of working together to differentiate themselves from the chains,” explained Steffan Aquarone.

“Droplet was founded on the belief that you can do payments differently, with absolutely no transaction fees for merchants or consumers – unlike contactless, credit cards or Paypal.”

He continued: “We needed to move this forward even further and came up with the idea of ‘Rewards’, where the merchant could award the customer a virtual stamp every time they spend in store. This could then translate into a free cup of coffee, 20% off a meal or even a free product.”

“This is a ready-made loyalty platform for just £20 per month and all they need is a web-connected device at the point of sale to make it a reality.”

Using Droplet is simple for the consumer, just tap ‘pay here’ when entering a registered outlet for the first time and the payment is taken directly from your chosen card – you’ll get a notification on your phone to show how much you’ve been charged and the reward stamps you’ve earned.

Over time customers will be able to remove queuing from their visits, with the ZeroTouch® technology allowing the retailer to know what you want when you check in, serve you your drinks/products and then take payment automatically.

Bunyip Beads & Buttons, which is situated in the heart of Fore Street, was one of the first firms to embrace it.

“The initial reason we adopted Droplet was due to the ‘no bank charges’ offer…as an independent retailer any means of saving money is always going to be appealing,” explained owner Mattie Richardson.

“However, since we’ve been using it we’ve been really impressed with how easy it is, how quick it is and the excitement it creates within our shop.”

Rosy Tydeman of The Glorious Art House was equally supportive:

“Customers are really excited to use it, even people who have cash in their pocket now choose to pay with Droplet. During the quick set-up, people of all ages are like children in a toyshop, discovering something new and practical.

“It’s also great be part of something alongside our fellow independents; there is a real buzz on Fore Street and people are talking about it which can only be good for business. The GPS feature with other shops makes people more willing to use the app again and again.”

Ambassadors

Droplet, which is available on iOS and Android, is using £575,000 of Crowdfunding to take ‘Rewards’ national with Exeter joining Birmingham, Leeds, London, Manchester, Norwich and Cambridge as one of the first cities to benefit.

More than 1000 merchants across the UK accept Droplet, with 150 of those already signed up and starting to reward customers for their visits.

The company’s growth to date has been underpinned by an innovative approach that focuses on bringing independent communities together.

Rather than hiring a remote sales team, it has instead looked to appoint Ambassadors as a way of introducing the app to new locations and understanding what local merchants need on the ground.

“I was tasked with identifying the most influential small businesses in the City and showing them how the payment app could be used to enhance the way they currently process transactions,” pointed out Tico Altahona, who is driving the Exeter launch as part of his One Planet MBA at the University of Exeter.

“The first task was to prove to retailers that Droplet is already being successfully used by their peers and is easily integrated into existing technology. It’s therefore a very safe, but cost effective business decision for them to take.

“Unlike some of the other areas we’re operating in, we decided to focus more on engaging complete streets, encouraging them to create a sense of community in order to increase footfall.”

Tico concluded: “This seems to have worked really well, with 75% of Fore Street already signed up. The maps and banners have created a buzz and we’re hoping other areas in the City will follow and embrace a new form of payment that is proven to offer many benefits.”

This was posted in Bdaily's Members' News section by Russ Cockburn .