Much has been made in recent months about touchless payment terminals. A mobile card reader or a tap-and-go configuration offers several benefits that every savvy retailer should understand. After hearing about them, you’ll likely decide to integrate contactless payments into your business model ASAP.
The definition of contactless payments.
First, it is important to define what contactless or touchless transactions are. They can be made using either a credit card or device that contains a smart chip or special communications technology that interfaces with your contactless reader. Once the card or device is within one to two inches of your reader, payment-related information can be transmitted back and forth. The contactless technology is designed to ensure that all details are encrypted and tokenized to protect them from being intercepted by hackers.
The benefits of contactless payments.
In many respects, touchless transactions give customers and merchants the best possible results: Efficiency at the checkout counter without sacrificing security. Advantages include the following:
- Speed. Touchless transactions can be completed in a matter of just two or three seconds. As a result, lines at the register move much faster, and staff and customer frustration are kept to a minimum.
- Encryption, tokenization, and other technologies protect consumers’ payment information from cybercriminals. This, in turn, also benefits you as the merchant by increasing customer satisfaction and decreasing chargebacks.
- More efficient operations and faster processing equal better use of staff time.
- No added fees. You won’t be required to pay additional costs when processing tap and go payments.
- Finally, incorporating contactless payments into your business model is probably even easier than you think. Your current POS solution may already be capable of conducting these transactions. If it isn’t, your merchant service provider will be happy to help you to upgrade your equipment.
How touchless payments can enhance your brand during the pandemic and beyond.
It’s no accident that customers truly began to embrace touchless payments as the coronavirus pandemic raged in 2020 and 2021. Touchless payments continue to provide buyers and sellers alike with peace of mind. They enable funds to be transferred without even the potential for viral transmission that could happen if human hands or devices are touched. At the same time, the data being transmitted remains encrypted and safe from theft.
Businesses that offer tap-and-go payments send a subtle message to their customers. By incorporating this technology into their payment landscape, they suggest that they have made their customers’ safety and well-being their highest priority. In an era when many people are feeling anxious and vulnerable, this extra care can go a long way toward endearing a business to shoppers.
Touchless payment terminals are easy to obtain and virtually effortless to set up. Customers appreciate their features and will thank you for caring about their health as COVID-19 continues to affect people of all ages. Isn’t it time that you offered touchless payments to your valued customers?
