What Every Company Should Know About Contactless Payments
Times have moved on in Australia and all over the world and contactless payment is seen as one of the most effective ways to pay for goods and services. In Australia, contactless payments are widely accepted by merchants, with more than 80% of all cards having this capability.
How do contactless payments work? Simply put, contactless payments are made by tapping or waving a card or mobile device in front of a payment terminal. This triggers the payment system to read the data stored on the card or device and prompt a customer for their identification number. The payment is then securely processed through an encrypted connection between the payment terminal and the payment card issuer.
For businesses wanting to accept contactless payments, there are a few things they should consider before making the leap. There are a few key points to keep in mind when setting up your contactless payments system – don’t worry, we have lots of useful information in this guide.
Firstly, you must ensure that you have the right payment terminal. Contactless systems require card readers and terminals that are enabled for accepting contactless transactions. You may also need to purchase an NFC (near-field communication) reader which utilises radio frequency technology to authenticate and process payments.
Secondly, you need to make sure that your chosen payment provider is compatible with contactless technology. As this technology is still relatively new, not all providers offer it yet. You should do some research and ask your provider about which contactless services they provide so that you can ensure that you are using one that is both secure and reliable.
Thirdly, you should ensure that you have the appropriate level of security in place to protect your customers’ contactless payments. This can include PIN verification and other methods such as encryption technology or tokenisation. You should also educate your staff on how to process contactless transactions correctly and securely so that they are aware of the potential risks associated with the technology.
Finally, it is important to consider customer experience when implementing contactless payments. Customers need to be able to easily and quickly make their purchases using contactless payments, so you should ensure that your payment system is user-friendly and intuitive. You should also provide your customers with clear information about the contactless payment process and its security measures. This will help to build trust in your business and ensure that customers feel secure when making purchases via contactless payments.
Overall, understanding the benefits and risks of contactless payments is essential for any business considering implementing them into their payment system. Contactless payments are becoming increasingly popular and prevalent, so it pays for businesses to be up-to-date with the latest advances in technology and make sure they make the most of them. By understanding contactless payments and taking the necessary steps to ensure their security, businesses can benefit from a more efficient payment process and a more loyal customer base.
With a Zeller EFTPOS terminal, businesses can accept contactless payments quickly and securely. Zeller has developed a range of features to help keep your customer’s information safe, while providing a convenient payment experience. As well as accepting contactless payments, the very best systems also integrate with a POS system, allowing businesses to keep track of their transactions.
The benefits of contactless payments are numerous, including increased speed and efficiency at checkout, improved security due to the encryption of data, and simplified operations since no signature is required. Why not offer this option to your consumers now? They will appreciate the option!