Are You Excited About Tap and Pay

Time is valuable. That is true for both you, the merchant, and your customers as well. There is one payment method that can help to save you time and increase your security while at it. Contactless payment is becoming more popular by the day. Are you taking advantage of it?

Contactless payment, or tap and pay, is a quick and convenient way to accept or make payments. Near Field Communication (NFC) technology allow your customers to tap or wave their card over a NFC POS terminal and the payment is made. Newer terminals can also take NFC payments from smartphones. Are you taking advantage of this? If you aren’t here are six reasons why you should as highlighted by creditcardprocessing.net:

6. Customers love it. Your customers are always looking for the most hassle-free experience that they can have. Contactless payment gets them in and out of the door quicker and easier and while some may miss the opportunity for small talk most just want to get on about their day. Many customers also will see that you are using new technology and most customers, especially younger ones, look on that much more positively.

5. It is versatile. NFC technology can be used for more than just accepting payments. It can be used for making reservations, redeeming rewards, as coupons and so much more. It can also be used to help ID employees to increase your security.

4. Card Security. Contactless payment is more secure than using a credit card. Merchants have much less access to the card thereby already making it more secure for the customer since fewer people will have a chance to see the information. NFC technology adds an extra layer of security that magnetic stripe cards just don’t offer. If a smartphone is stolen the security on the phone will keep the information much safer and biometric information is only making this more secure.

3. Convenience. Customers may no longer need to carry a wallet with them to do business with you. Considering most people cannot stand to be without their phone and already have it on them there will be little change in a customer’s life. Of course there are also times where the customer forgets their wallet and this gives them an extra option though there could be a problem if the customer forgets their phone…

2. Speed. NFC transactions are fast. As a merchant you are well aware how long an EMV transaction takes to complete. NFC transactions can be completed in just a few seconds. Perfect for busy merchants or when you need to move on to your next job. Seconds count.

1. Simple. With NFC there are no more signatures to sign or PINs to enter. No more receipts to keep or to clutter up a customer’s pocket. Transactions are stored digitally both for the merchant and the customer. With smartphone transactions since the customer is able to log in to their app to access their digital wallet there is a very good chance that the customer is not a thief making these other security measures unnecessary.

Are you using an NFC equipped POS terminal? If you are not you might want to start doing so. It could lead to an increase in business and better retention of current customers. If you are interested give JLE Business Consultants a call and we can go over your options with you and help you out. You don’t have much to lose and you have a lot to potentially gain.