We’ve reached a point in our society where cash is slowly becoming less and less the ideal payment option. And it makes sense. Contactless payment makes it a lot easier when getting in and out quickly, without the worry of having all the available cash on you. Tap-to-pay comes in many different forms including credit and debit cards, smart phones, smart cards and other devices like watches and rings, providing a variety of ways to pay. This article will explore the benefits of contactless payment, along with some of the secure systems that enable you to make your purchases.
4 Benefits of Using Tap to Play
When you’re in a rush to get your groceries done, you don’t want to be held up at the counter. With cash, there’s more time spent in the process of handling money, resulting in longer lines. A tap to pay allows transactions to be completed quickly, making the turnover improve, with queues less likely to build up. Increasing the speed of all checkout lines throughout all stores eliminates wasted time, making life a bit easier for all individuals.
If you were to ever get cash in your wallet or purse stolen, there was no easy way to trace that back to the person who stole it. But with contactless cards, if that were to ever happen, you could freeze the account or contact your bank, where they will disregard and amend any fraudulent payments. You might think that yes, tapping a card is a lot easier for people to steal and use, but these types of cards have built-in protection, so the charge cannot occur twice. You can even set the amount to a certain limit so that only smaller purchases can be made.
Technology has come a long way, and contactless payments are no longer just for cards. The technology within contactless readers can interact with phones and accessories, like watches and rings, allowing you to use other means of making swift payments.
Way back in 2014, when Apply Pay launched, users who had forgotten their card could use their phone to make purchases. This led to even more development, resulting in the Apple Watch, where you could make a payment without getting out your card or phone, allowing for quick transactions.
4. Improved Customer Experience
With all of the transactions becoming more secure and effortless, stores can get more shoppers through at a faster rate; there are fewer abandoned sales, and customers aren’t constrained to the amount of cash they are carrying (This is where credit cards come in handy because customers can pay later).
With a contactless card, a majority of transactions don’t require a receipt, unless the customer has specified they would like one, most likely due to the item being of high value. Again, even though a small amount, the customer is spending less time at a till.
Best Types of Contactless Payments
We’ve looked at some great benefits of having a contactless card, but what are some of the best options? Let’s take a look:
- Apple Pay: For those of us with iPhones, this is a version of the contactless payment system you can get. It supports all major credit and debit cards. As mentioned above, Apply Pay was launched on October 20, 2014, by the company, Apple, eventually leading to more devices to pay.
- Google Pay: Like with Apply Pay and iPhones, Google Pay is for those of us with Android phones. It lets users store items in the digital wallet, such as tickets, credit cards, debit cards, gift cards and loyalty cards. If you don’t have a compatible phone, you can order a physical card to use this system.
- Samsung Pay: Though it’s not as popular as Apple and Google Pay, it’s still a viable option that’s in your mobile wallet. Samsung Pay is a partner with many leading banks in the U.S. and is accepted anywhere that accepts card payments through swipe or tap. It’s an easy-to-use option, just open the app, select the card, authenticate it with a fingerprint and place it near a card reader to pay.
The Future of Contactless Payments
We’ve come quite a long way from coins and bills, switching to a more technologically advanced society. Contactless payments have grown in popularity and have made their way into mainstream services, with many businesses supporting these types of payments. It might be time to fully get away from the physical and into the digital world. It’s convenient, secure and effortless, so if you don’t already have one, what are you waiting for? It’s time to put away the cash and swipe to the future.