In this era of heightened safety-consciousness, contactless transactions are becoming increasingly popular among both retailers and buyers. Just what benefits do they offer for both you and your valued customers? 

Personal safety.

As the pandemic continues, we have learned a lot more about how the coronavirus is transmitted from person to person. Although the primary means seems to be via droplets, it has also proven to be important to sanitize both our hands and any surfaces we touch. Contactless payments powered by near-field communications (NFC) technology allow entire transactions to take place without a card or device ever leaving the customer’s possession. They also leave potentially contaminated cash out of the equation. All that is required is a contactless card reader and a smartphone or card equipped with the right wallet or technology.

Enhanced security.

With less cash flowing into your registers, you run a decreased risk of suffering losses due to theft or human error. Contactless payments use one-time tokenization that differentiates each payment from all others and prevents criminals from benefiting by stealing numbers or other sensitive information. At the same time, both you and your buyers have easily verifiable records of the payment, including the ability to email receipts paperlessly and safely store records on your POS for future sales.

Greater efficiency.

No one likes having to wait in long lines to pay for products. By the same token, there is not a cashier in the world who enjoys dealing with harried customers frustrated by standing in extended lines. Contactless payments markedly cut down on these issues by speeding up the process without compromising security. That’s a win-win for your employees and customers. 

Effortless execution.

Contactless payments can be made using a smartphone, a contactless credit card, or a wearable device like an Apple or Android watch. With barely any work at all on their part, customers can simply place the device of their choice near your NFC-powered contactless card reader, with no fumbling for cash or plastic necessary. 

Enhanced customer experience.

Buyers are happier when they feel good about the security and efficiency of their purchases. As a result, they are less likely to abandon them or to feel negative about the process when it is conducted safely and touchlessly. Furthermore, many of them will appreciate your business’s commitment to hygiene and safety

In the end, contactless payments provide advantages for everyone involved. Consumers enjoy the faster, safer process they love during these hectic, health-conscious times. Meanwhile, merchants are rewarded with higher profits, enhanced efficiency to promote better allocation of staff resources, and the ability to boost their brand and reputation for giving customers what they want. If you have not already incorporated contactless payments into your business model, there is no time like the present to begin doing so!

Contact NAB today and see how easy it is to get the merchant services you deserve.

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