To adapt to the technological evolution is fundamental to the business of retail, and the trend is now pointing towards the contactless payment. In this post we will update it in relation to this topic.
Latin america takes its first steps in the evolution of the means of payment, where the cash has ceased long ago to be the protagonist, being replaced by credit and debit cards. However, it is time to take a new leap to incorporate in the retail technology oxymetholone in usa contactless payment.
A new form of payment
While the contactless or to pay without contact they have existed since the beginning of 2007, its rapid acceptance in the last few years has been really impressive, especially in Europe, Asia and Oceania.
This contrasts with other innovations in the near past, such as the atm, a technology that took decades to gain the trust among its users; by comparison, the contactless payment it has gone from being a novelty to be established as a means of payment quickly accepted.
A part of the attraction that represents the contactless payment is that it is a fast, intuitive and ubiquitous, not only as an instrument to perform in-store purchases in retail, but even for transport. For example, in the United Kingdom is expected to be used on all buses by the year 2022.
What is contactless payment?
In the first place, we should know what it is an innovative form of payment that usually causes confusion in the users to not be able to identify if this is a means of payment “card present” or “card not present”.
The Contactless payment it is, in fact, a transaction with card present when a cardholder interacts with a specific endpoint. But that should not be confused with the payments made through mobile wallets, which are considered to be transactions with card not present.
This form of payment offers to the consumers the ability to buy quickly and easily. In practice, the technology without contact it has the potential to shape the retail environments, and allow customers to make purchases throughout the store.
Influence on the retail sector
The contactless payment can even go beyond being a novel instrument to pay for products at the store, because that retailers can implement this technology in different ways, as, for example, to allow customers to register as a buyer in a retail setting.
This would allow retailers customize the experience from the store to the consumer, which also creates greater comfort and familiarity for customers and lead to a greater adoption of these tools non-contact ultimately, also for payments.
The benefits of the contactless payments for retailers are not only queues faster, less handling of cash and more efficient service to the clients, but they also help pave the way for the payment methods emerging as mobile payments and biometric that they will soon become the mainstream in countries such as New Zealand.
The contactless payments are one of the most secure ways to pay, in fact, the technology is as secure as a credit card or debit card regular. Just by tapping the card on the terminal, this remains in the hands of the customer at all times, so that improving the speed and security of the transaction.
The use of contactless payment for retailers is favorable in terms of the reduction of operating expensessince the costs associated with handling cash are often overlooked by the companies.
While the handling of cash may seem relatively cheap for the store, the actual cost includes expenses such as handle and count currency notes and coins, transporting cash to the bank, insurance, risk of loss or theft, and additional costs to society, such as to print and distribute money.
The small increase in efficiency through the use of contactless payments you can make a big difference in the bottom line of a business.
The contactless payments allow consumers and retail take advantage of the innovations in this area and so this technology opens the door to the means of payment are emerging, such as the mobile payments.
All indications are that the market is moving quickly towards the possibility of making payments without having to carry a wallet physical.
Conclusion
The contactless payment it is a tangible reality, and the sooner it is built by the industry retail it will be best for your preparation for the passage of other payment methods emerging as mobile payments, the portable technology through the use of clocks and intelligent biometrics using the facial recognition and fingerprints.
