How Can I Accept Contactless Card Payments?

Following the Coronavirus pandemic, contactless card payments have soared. With so many people wanting to avoid handling cash or using chip and pin, contactless payments became responsible for 57% of all debit card transactions in 2020. Not only have the number of transactions increased, but the spending limit has also increase from £45 to £100. That means that people can spend even more money in one contactless transaction.

So, what does that mean for retailers? In short, if you don’t already accept contactless payments, you are missing out on a huge portion of customers who prefer to make contactless transactions in-store. That means you could also be missing out on a huge portion of revenue. It doesn’t, however, mean that you need to stop accepting cash payments. You simply need to cater to more customers by offering more payment methods. 

In this article we will cover:

• What are contactless card payments?
• The benefits of accepting contactless card payments
• How can I accept contactless card payments?

What are contactless card payments?

Contactless payment methods allow customers to process transactions in-store without exchanging cash or even touching the card payment machine. This is more hygienic and often more convenient too. Customers can make payments by simply tapping their debit, credit card or mobile device on the contactless card reader. However, to use a mobile phone, they must have Google or Apple Pay set up on their device first to make a mobile card payment.

The benefits of accepting contactless card payments

Accepting card payments is a huge benefit to any store but accepting contactless card payments provides ultimate convenience. The great thing is, you can still accept chip and pin or cash payments so you can cater to all of your customers. Here are just some of the benefits that contactless card payments bring.

1. Simple There is no waiting around with contactless payments. All you have to do is show the card reader towards your customers and they simply tap their card on the contactless logo. Payments can be made in seconds.
2. Hygienic When there is no need to exchange cash between hands or touch the card reader to enter a pin number, the likelihood of transferring germs becomes much lower. In the wake of the Coronavirus pandemic, minimal handling of money or devices in-store is often preferred by both customers and retailers.
3. Safe Contactless payments are just as safe and secure as chip and pin or cash transactions. Customers have the same level of fraud protection and contactless card payments up to £100 have been authorised by the financial conduct authority (FCA). 
4. Efficient Quick and easy, your customers can pay without any hassle with contactless card payments. They are processed quicker as there is no need to enter a pin number which means you will be able to get through a queue of customers much quicker if they use contactless payments. 
5. Versatile By accepting Visa, Mastercard, Apple Pay, Google Pay and Maestro, customers have the freedom to pay with their preferred payment method. You can accept payments from debit cards, credit cards, mobile devices and smartwatches if your customers have their bank accounts connected.
6. Satisfying Long queues are a thing of the past. Say goodbye to frustrated customers waiting in line and hello to faster-moving lines. Not only is it satisfying for your customers to tap their card and go, but it’s also satisfying for you to serve more people in less time and have them leaving your store much happier.

*Excluding VAT #A separate terminal will be supplied for card acceptance functionality. This service will be incorporated into your Payzone Plus device after 6 months.