Hinz&Kunzt Boosts Sales With New Digital Payment Options
Hinz&Kunzt, a popular street magazine, has introduced digital payment options, leading to increased sales. Vendors have started accepting cashless transactions via PayPal, Google Pay, Apple Pay, and credit cards. This shift, though still in the testing phase, has shown promising results.
Jasmin, a Hinz&Kunzt vendor, experienced a boost in sales after embracing digital payments. She sold around 30 additional magazines during the test phase. The cashless payment process is entirely mobile-based, making it convenient for customers.
Since December, 16 vendors have been trialing this new system. The money from these sales is transferred to vendors within 1 to 3 business days after confirmation, depending on the payment method and platform. Hinz&Kunzt parks all smartphone-based payments on a single account and allocates amounts to vendors via their ID number. Vendors do not need a personal bank account to participate.
Despite the new cashless option, cash remains the preferred payment method on the street. Every Friday, an email newsletter is sent to keep vendors updated with the week's news and any changes to the system. Vendors will soon receive new receipts featuring a magenta vendor number and the Hinz&Pay logo, valid from March.
Hinz&Kunzt's digital payment initiative has shown early success, with increased sales and a smooth cashless transaction process. As the system continues to be tested and refined, vendors and customers alike can look forward to a more diverse range of payment options.
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