Contactless credit card readers are becoming more common in retail establishments thanks to the proliferation of NFC and RFID-enabled credit cards and smartphones. For several years, credit card issuers have been adding chips to their cards that allow them to be read by readers such as ExpressPay from American Express, Blink from Visa, and PayPass from MasterCard. Now, smartphones are about to become the next big player in payment processing, thanks to Near Field Communication (NFC) chips that will allow people to ditch their plastic credit cards and make payments simply by tapping their phones to contactless readers.
Capital Processing Network features a variety of contactless credit card readers that are compatible with smart cards and NFC enabled phones. We carry the DS VIVOpay line, First Data FD30 and FD35 PIN Pads with contactless capabilities, and the OTI Saturn 5000. These readers can be configured for different environments and uses, such as ticketing, vending machines, retail payment, parking, and public transportation uses.
Because contactless readers offer a speedy alternative for payment, they are a win-win for merchants and customers. For the consumer, the advantages of contactless readers are that the card (or smartphone) never leaves the customer’s hand. For the merchant, there are even more advantages. First, customers get through lines 53% faster than if they were using a traditional credit card, and 63% faster than if they were using cash. For any service or event that involves ticketing, this means that fewer cashiers are necessary. Contactless card use carries full chargeback protection when transactions meet program requirements, and data transmission standards are highly secure. It should also be noted that the card’s actual number is never transmitted wirelessly, so customers don’t need to be afraid of exposing secure information.
Adopting contactless credit card readers in your business is a sensible way to get a jump on an upcoming trend in phone based credit card processing and payment authorization. Because people typically upgrade their smartphones every 2 years, NFC enabled phones are poised to become commonplace in a fairly short amount of time. Meanwhile, contactless credit cards are already being used in locations around the globe, while US credit card companies are issuing chip-enabled cards to more users. When you upgrade to contactless credit card payment systems from Capital Processing Network, you are able to prepare for the future of credit card payment processing while you reduce the costs associated with accepting credit cards.