CONTACTLESS POS PAYMENTS KEY TO CUSTOMERS & MERCHANTS
Consumers have been slow to adopt contactless payments for years, but COVID-19 has become the tip- ping point for digital transaction acceptance. According to a recent Mastercard poll, more than half of U.S. consumers are now using some form of contactless payment. Cash is being used less often or not at all since the pandemic started.
Touch-Free Payments Add Safety and Convenience Te shift in behavior is clear at checkout, as consumers express a desire for touch-free payment options over concerns regarding cleanliness and safety at the point of sale. Te survey found that 50% of U.S. consumers worry about the cleanliness of signature touchpads and 88% said that implementing a contactless payment option was easy and they will continue to use touch-free payments post COVID-19.
Blake Rosenthal, Mastercard’s executive vice president and head of acceptance solutions stated that, “Social distancing does not just concern people’s interactions with each other. It includes contact with publicly shared devices like point-of-sale terminals and checkout counters. Contactless offers consumers a safer, cleaner way to pay, speed at checkout, and more control over physical proximity at this critical time.”
Merchant Ability to Accept Digital Payment is Essential It is important for veterinarians to be prepared for the shift to contactless payments if you have not done so already. If your practice accepts EMV chip cards, then you can most likely accept tap and pay as well. Mil- lions of terminals, updated during the October 2015 EMV liability shift, offer both contact and contactless payment options that customers and practices can take advantage of.
Virtually every modern smartphone – including all new iPhones and most Android devices – can make contactless payments. Smartphones use apps called mobile wallets to securely store and transmit customers’ payment data. Te most popular mobile wallets include Apple Pay, Google Pay, and Samsung Pay that come pre-installed on new devices from those manufacturers. Consumers can opt-in to using these services easily, and they just need a participating bank to verify the card prior to using their digital wallet for purchases.
If you are a veterinarian who can accept contactless payments, now is the time to take advantage of this tech- nology to keep you, your employees, and your customers safe. If you have not enabled contactless payments for your business, reach out to Infintech and learn more about our contactless solutions.
Contact Infintech Advisor, Matt Valego, at
matt.valego@
infintechllc.com or (270) 683-3475. 8 KVMA News - Advocacyws
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