Contactless payments are a fast and easy way to accept card payments for your business. It lets a customer tap their contactless-enabled credit or debit card, smartcard, or another payment device such as a mobile or wearable device on a contactless-enabled payment terminal to authorize any transaction using radio-frequency identification (RFID) technology and near-field communication. This type of transaction does not require a signature or personal identification number (PIN) and is a quicker payment method when compared to swipe or EMV chip card transactions. As a business owner, it can be very beneficial to provide contactless payments to your customers.
- Security and Reduces Risk
Contactless card terminals provide the same protection as EMV chip and PIN payments. Their built- in protection does not allow the customers card information to be decrypted because of the unique number that is used for each transaction. This unique number protects the customer’s actual card number.
- Convenience
Contactless payments are faster for your customers because they do not have to spend time inputting PINs or signing receipts, which could mean shorter checkout lines for your business.
- Reducing Cash Handling
Cash handling can add time-consuming activities to your everyday business. With contactless payment options, you can make your business more efficient and reduce the hassle that can come with cash handling.
Contactless payments are the new way for you to offer your customers a safe and faster transaction while improving customer experience when making a payment or transaction. For more information about Arvest Merchant Services, please call 1-844-874-7628.