Contactless payment: learn how to use it in your business

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Do you already offer contactless payments to your customers? This payment method is here to stay and retailers should take advantage of the opportunity to test this option. For consumers, this method is very practical, as it eliminates the need for a password, making the purchase process faster.

But if you still have questions about this new technology, don’t worry, we’re here to help! In this post, we’ll explain what contactless payment is, how it works, and what advantages it brings to you and your customers.

In addition, you will also find out whether this payment method is safe, whether it is worth it for your business and how to implement it in your store. Want to know more about all this? Then read on!

What is contactless payment?
Contactless payment, also known as NFC (Near Field Communication), is an innovative technology that allows customers to make purchases simply by holding their card close to the machine .

Therefore, this method eliminates the need to use passwords chile mobile phone number insert the card into the device — the password may only be required in more specific cases, such as carrying out a high-value transaction.

Furthermore, many consumers today also use their cell phones to make this type of payment, using digital wallet apps from ApplePay, Samsung Pay or Google Pay, for example. The logic is the same as contactless payment with a card: the customer accesses the app and holds the smartphone close to the card reader until the transaction is completed.

The card machine itself confirms when the payment is completed and the transaction amount is already recorded on the device.

Now that you understand what NFC is, let's take a closer look at how it works. Check out the next topic!

How does contactless payment work?
The idea behind contactless payment is simple: the card needs to be contactless, a technology compatible with that of the card reader. This way, when the devices are brought together, it is possible to connect them through short-distance radiofrequency waves.

NFC is widely used not only for payments at card machines, but also for using public transport, for example. In this case, the person must place the card near the turnstile, which identifies the payment and releases the ticket.

But why should you implement this payment technology in your store? That’s what we’ll see next!

What are the advantages of contactless payment?
Contactless payment is very practical for customers, in addition to being an extra security measure in times of pandemic, as it does not require contact between the card or the buyer's hand with the payment machine.

Furthermore, by implementing NFC in your store, you offer consumers another payment option. Flexibility in this sector is important for businesses today, as customers have different preferences regarding payment methods . This way, you avoid losing sales due to not having a certain option.

Having a card machine that offers contactless payment is also advantageous because the device centralizes all transactions made in one place. This makes it easier to manage your sales and allows you to act on any problems that arise immediately. This gives you more predictability about how much you will receive each month.

Is contactless payment safe?
In terms of technology and information security, NFC is quite secure. So, your customers can feel comfortable using this payment method in your store.

However, like any other payment method, it requires some care. For example, it is recommended that people do not carry their card in their back pocket, because criminals can place a card machine near that area and make payments without the person noticing.

In any case, by adopting this type of measure, contactless payment is quite advantageous for businesses and consumers. So, if you don't already offer this alternative to your customers, it's worth implementing it and evaluating the results for your store.

One idea to protect your customers is to leave a sign in the store advising people not to leave their cards in their back pocket, but to use a wallet or an inside pocket of their coat, for example. This also gives your customers more confidence, as they realize that your business cares about their security.

How to implement contactless payment in your business?
To implement contactless payments in your business, it is important to first have a card machine that offers this function. Ideally, it should accept different card brands, so that you can serve a larger number of customers who use this payment method.

To avoid processing errors and ensure maximum security for all transactions made using contactless payment, the retailer must always check the amount and monitor the card machine statement. So, if you want to have more peace of mind, you can also do this directly on the device, without having to wait until the end of the month.

Furthermore, to prevent the customer from making several unsuccessful payment attempts, it is important that the card is at an adequate distance from the machine for the technology to work (between 2cm and 5cm, approximately).

The measures to improve NFC efficiency are very simple and can be easily incorporated into the daily lives of retailers and customers. So, take advantage of this innovative payment method in your business. In fact, Stone can help you implement contactless payment in your store.