The Many Benefits of Contactless Technology

The chip and PIN terminal has taken the retail world by storm, but now it has some new and improved technology snapping at its heels: contactless card payments.

Issued by banks across the nation as a matter of standard, contactless payment methods allow shops and traders to process payments of up to £20 without the need for customers to type in a pin or hand over cash. Simple to use, quick, and convenient, they allow consumers to make transactions in record time.

Britain’s shoppers are being converted in their thousands, so is it time for its retailers to follow suit? Here are just three of the reasons why the answer should be a resounding ‘yes’.


Increased Revenue

An increase in revenue is never to be scorned, and any device that can deliver it should be welcomed with open arms. Contactless card payments fit the bill to perfection. With multiple studies indicating that consumers spend more when they can pay by card, and additional research indicating that those who hold contactless cards will actively seek out merchants that accept them, they’re a guaranteed means of boosting your profits.


Improved Customer Service

One of the keys to owning a successful enterprise is to ensure that your customer service is second to none, and part of this is being able to meet the needs of your consumers. With over 48 million people now owning contactless payment methods, those who hold them want merchants that will accept this type of payment. Investing in the right technology will instantly make you one of them, increasing customer satisfaction and thus ensuring repeat business.


Quick and Efficient Transactions

Chip and PIN terminals have done a wonderful job of reducing the average waiting times in shops across the country, as they’re quick, simple, and remove the need to handle or calculate cash amounts. Contactless payment methods are even quicker. Transactions can be made with a simple swipe of the customer’s card, and according to the UK Cards Association, the average payment made this way takes less than a second to process. This not only reduces the time spent waiting for a transaction to clear, but also handily negates the need to type in a pin code. The benefits of such an advantage are obvious: reduced transaction times, reduced waiting times for the customers behind, and improved customer service all around. 

Why not explore your contactless terminal options today?