Contactless payment solutions have rapidly become the new safe and easy way to pay for goods and services. In previous years, the use of contactless pay was often seen as an additional convenience, but recent global health concerns have shifted it to necessity.
Per a survey conducted by Forbes, 70% of companies either have a digital transformation strategy in place or are currently working on one. The basic idea with a digital transformation strategy is to analyze your needs and your own company culture in order to implement digital tools required to enhance and stabilize your value during any climate.
In the age of technological enhancements, digital transformation, and customer experience go hand in hand. That is why adding contactless payments to your business is so important. Here are just a few ways adding contactless payments can benefit your business now and in the future.
What are Contactless Payments?
Contactless payments are accepted globally by many merchants including retailers, restaurants, pharmacies, grocery stores, and transportation. Processing transactions without contact gives your customer’s the option of submitting payments without their card or device ever leaving their hand.
The unique encryption with every transaction protects personal data during each transaction reducing the risk of fraud. Additional safeguards for contactless transactions are also put in place to prevent your customers from being billed multiple times should they accidentally tap their card or device more than once.
There are many contactless payment options available.
Contactless Terminals – A contactless terminal is a card machine that accepts various types of contactless payments, including credit and debit cards, Apple Pay, Android Pay, Google Pay, Fitbit Pay, and other devices that use near field communication (NFC) or radio-frequency identification (RFID).
Text2Pay Invoices – With the Text2Pay feature in the Omni Virtual Terminal, you can send an invoice to your customer via SMS text, making it extremely convenient to be paid. By sending an invoice over text, your customer is more likely to see it right away. Plus, if they store credit card information on their phone, they can pay you in just a few taps.
Digital Invoicing via Virtual Terminal – With Digital Invoicing you can send an electronic invoice to your customer to be paid via email or SMS text message. With the use of a virtual terminal, you can configure automatic payment reminders and set recurring digital invoices for monthly services.
Can My Business Use Contactless Payments Solutions?
While the U.S. is still very new to the idea of processing payments without contact compared to the U.K., Australia, and Canada, it’s well on its way. In fact, more card issuers are delivering contactless cards to consumers due in part to a big mobile payments push from popular companies such as Apple and Google.
Transitioning your business to accept contactless payments is easier than you may think. In fact, you may already have the capability to accept contactless payments. The technology behind tapping a card with a mobile payment service such as Apple Pay and Google Pay is interchangeable. In other words, if your payment system can accept a tap from a card, it can also accept a tap from a phone.
Trying to determine the right balance for your small business? Adding a contactless payment solution provides your customers with an additional fast, safe, and secure way to pay. Having an online payment option including contactless payments has also been proven to increase sales and improve cash flow.
How Much Does It Cost To Add A Contactless Payments Option To My Business
The process of adding contactless payment options usually requires your business to purchase costly products from multiple providers. In this current climate, the last thing you can afford to do is waste money on features your business may not need or don’t fit well with your business strategy.
When enabling contactless payments into your business model, finding acceptable payment methods for your needs should be priority one. Now is the perfect time to future proof your business with the right contactless payment solutions. Having all the tools and features your business needs “under one roof” helps eliminate added costs that result from using multiple payment processing providers.
Each business is unique, and it pays to understand exactly what will work best for your business. Adding the Omni Virtual Terminal with contactless payment tools is an affordable solution that allows your business to easily adapt to a contact-free environment. Learn more about contactless payments and find out how you can quickly start saving with Fattmerchant. We will be happy to answer any questions you have and help you leverage the best contactless payment solutions for your business needs.