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Contactless Payments

July 10, 2016

Contactless Payments – Get Your Business Moving Faster

Contactless payments offer a fast and secure way to accept debit and credit cards to help you serve more customers in less time. With one tap of a contactless card, customers can pay for their purchase without swiping and signing or having to insert a card and key a PIN. Contactless readers provide speed and convenience by reducing the time for service with a shorter transaction time at check out.

With no need for a PIN or signature, low-ticket purchases are easier – customers simply tap to pay and can be on their way. Plus, providing a receipt is optional, saving on time and paper.

Technology & Security

Contactless payments operate with the same payment structure used to transmit traditional debit and credit card payments. The contactless reader scans the payment information using radio frequency identification (RFID) technology allowing the card to simply be waved or tapped against the contactless reader to complete a transaction.

With transaction limits in place by the payment brands, this payment method is targeted for low ticket purchases. Features such as this could protect merchants from costly chargebacks.

Adopting Contactless Payment Technology

For any small business, adopting a new technology can mean additional costs or new infrastructure. Fortunately, Chase Paymentech has a line-up of POS solutions with contactless payment capabilities already built in. These solutions will allow you to easily accept contactless payments a give you a cost- effective way to adopt new technology, while maintaining your ability to accept credit cards and manual payments.

The transition is easy. If you already accept Visa, MasterCard or Interac, you can accept their versions of contactless payments (Visa PayWave, MasterCard PayPass and Interac Flash) with just the proper terminal equipment. Contact us today to find out how to get set up.

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