Times have really changed and technology seems to be working wonders. Did you know that you can now use contactless payments for your business? This is one of the best innovations in the modern world and there are many people who have already adopted this method of payment. If you have a business and are wondering which contactless payment solution to use, you are in the right place.
We have put together this guide so as to help you understand what contactless payment is all about and how it works as well as the advantages it offers to merchants. We will also be looking at the contactless payment solutions that are suitable for your business.
Contactless Payment Systems is easy, fast, and convenient. This is a great way of making payments due to their speed and convenience. There is no digging into your pocket or purse in search of cash or cards as you do not have to make contact with the reader.
In order to accept contactless payments, you need a contactless card reader. All you have to do is wave your customers’ cards in front of the reader and that’s it! You will be able to accept their payments easily without having to wait for anything. This is one of the most convenient payment methods available today.
Take a look at our Card machine & payment processing comparison here.
What Are Contactless Payments?
Contactless payments are one of the best forms of paying for goods and services. You do not have to pay by cash or card as customers can just make contactless payments using their cards, smartphones, watches, etc.
Contactless payment options include Apple Pay, Android Pay, and other NFC (Near Field Communication) options as well as contactless cards. These are a great option that makes it very easy to pay.
How Contactless Payments Work
Contactless payments work as they are able to communicate with devices that have contactless payment capabilities such as smartphones and contactless cards. All you need to do is swipe the card or device near the reader and customers will be able to make their payments easily without having to wait for anything. Customers only need to remember the limit they can spend with contactless payments and this is a good way of limiting the risk of fraud.
It is important to understand that there are so many different contactless payment solutions. As such, when choosing such payment methods it is imperative to consider the specific needs of your business as well as other factors such as the speed of service, cost, and security.
Advantages Of Contactless Payment Systems
There are a number of advantages associated with contactless payment systems. First of all, it is easy to use and also fast, which is quite convenient for customers because they are able to make their payments very quickly. This is one of the best payment methods available for businesses and it has a low risk of fraud as well. Here are the main advantages of contactless payments:
- Safe and Secure
Contactless payments are safe and secure as they are encrypted. This means that all the information about customers’ transactions is protected with sophisticated security technology. Just so you know, contactless cards have been around for many years now, and as such these payment methods have proven to be safe and secure over time.
- Fast Transactions
One of the advantages of contactless payments is that this payment method is extremely fast. All you have to do is wave your device or card in front of the reader and customers will be able to make their payments quickly. Generally, contactless transactions take less than a second which means that they are quite faster than other payment methods such as chip and PIN by credit cards.
- Easy Setup
Contactless payments are easy to install for businesses of all sizes. You do not need to make any changes in your business processes because this method will be able to work the way you are used to working. This is very convenient and ensures that your business does not have to go through any difficulties while making contactless payments available for customers.
- Affordable
Contactless payment systems are affordable for businesses of all sizes. This is one of the best options when it comes to accepting payments for your business as contactless transactions require low maintenance and operational costs. In fact, setting up a contactless system will only cost you $50-100 in order to have it up and running.
Contactless payment systems are already the mainstream payment methods in many countries around the world. However, as usage rates of contactless payments increase, this method is becoming even more popular. Contactless payments can be used not only to pay for physical goods and services but also in parking meters, vending machines, etc. If you are looking for a payment option that is safe, fast, and easy to use then contactless payments are the ones that you should go for.
Best Contactless Payment Providers
Here are some of our top picks of contactless payments service providers:
SumUp
This is one of the best contactless payment providers that are available on the market right now. SumUp is a very effective mobile payments solution that works with Android and iOS operating systems. As such, customers will be able to make contactless payments using their Android smartphones or iOS devices as well.
Another great thing about this service provider is that it can work seamlessly with your existing business processes. For example, you can use SumUp to take payments at trade shows and events or you can simply integrate it with a web POS system in order to accept contactless payments online.
QuickBooks Payments
If you already use QuickBooks accounting software to run your business then this is another option you should consider. QuickBooks Payments allows businesses of all sizes and from all industries to accept contactless payments, which provides a fast and reliable payment solution for customers.
In order to set up this service with your QuickBooks account, all you have to do is connect your card reader to your smartphone or iPad, which will make it possible for you to accept contactless payments. This service also comes with a friendly user interface and supports loyalty programs as well.
Zettle
This is another contactless payment provider that has a lot to offer. Zettle is an effective mobile payments solution for businesses of all sizes and from all industries. This service allows companies to accept both contactless card payments as well as Apple Pay and Android Pay.
With Zettle, you can also take advantage of the built-in analytics tool that will enable you to track customer behavior and see how your business is performing. In addition, Zettle is completely free for the first 60 days which means that businesses can try out this service without having to pay a penny.
Square
Square is one of the most effective contactless payment providers that are available on the market right now. This service allows you to accept Apple Pay, Android Pay, and contactless credit cards as well. In addition, Square offers a free debit card reader that will allow you to accept payments for goods and services in person without any problems whatsoever.
In order to use this service, all you have to do is download the Square app on your device, connect the card reader with it and you will be able to accept contactless payments from customers in no time. Square also has a friendly user interface that makes it easy for users of all skill levels to navigate it seamlessly.
PMP Global
This service provider can offer your business not only contactless payment options but also a wide range of other features, as well. PMP Global is an all-inclusive mobile payments solution that will help you to process secure and reliable contactless credit card payments from customers.
Another great thing about this service provider is the fact that it works with Android, iOS, and Windows Operating Systems. As such, you will be able to accept contactless payments no matter what type of device your customers are using. In addition, PMP Global is compatible with several business platforms as well which means that integrating it with your POS solution should not be a problem at all.
Summary
Contactless payments are becoming more and more popular nowadays as they provide a fast, reliable, and secure way to pay for goods and services. If you run a business then accepting contactless payments can be very beneficial for you because it will make the payment process easier and faster which in turn could lead to an increase in sales volume.
As such, all of the services mentioned above can help you to accept contactless payments without any problems. Whether you are looking for a mobile payments solution or a web-based service, there is something out there for everyone and with all of the benefits that come with accepting contactless card readers as opposed to cash, it would be in your best interest to start using this payment method.
