How Using Contactless Payments Can Benefit Your Business

Many business owners don’t give much thought to their card terminals, but maybe they should. Across the UK alone, millions of consumers now carry cards that allow them to use contactless payments.

With the emergence of mobile phone-based technology such as near field communication, we’re likely to see more and more customers opting to use this method of payment.

The benefits of installing card terminals that enable contactless payments are substantial.

Better Experience

Most customers prefer to have their business transactions completed in minimal time, many of us lead busy lifestyles, so the more efficient the experience the happier the customer becomes. Using contactless near field communication payments continues to grow, showing that clients like to use resourceful methods of payment that allow them to purchase goods quickly. Plenty of players look for casinos offering the highest payout among the competition.

The popularity and growth of contactless payments clearly show that consumers are embracing this new technology. As a business owner, it is important to give your customers what they want. Some of the UK’s leading companies such as First Payment Merchant Services can install modern card terminals that allow your clients to use contactless payments. These companies can fit your business with a state-of-the-art device that improves your operations.

Increase Productivity

Many business owners believe that using contactless payments will cost them money, but it can reduce operations costs and improve productivity. One of the best things about having a contactless card terminal is that it allows your staff to serve customers quickly and if you encounter any problems your terminal provider should offer 24/7 UK based support.

Installing contactless card terminals encourages your customers to spend more, helping to increase revenue. The contactless card limit has also increased to £30 making it easier for consumers to purchase more products, they now also have the option of increasing their withdrawal limit if they consult with their bank.

Added Protection

Having less cash on your premises is always more beneficial, it increases security and decreases your chances of suffering from a robbery or employee thief. Contactless card terminals offer an added layer of protection, they guarantee that payment is made the moment the transaction has been done. In comparison to cash transactions, contactless payments are far more secure, offering increased security and protection for your business.

Greater Loyalty

Many studies have shown that businesses that accept and encourage contactless payments tend to have a much higher customer retention rate. Consumers show greater loyalty to companies who are progressive and forward thinking, they also tend to spend more in comparison to other customers. In addition, the overall usage of contactless payments continues to increase, meaning a business which embraces this method will be in a better position in the future, considering its popularity amongst young spenders.

Choosing to install contactless payment card terminals is highly beneficial for your business. It opens up a range of possibilities and reduces the number of failed transactions. Customers get a better experience when visiting your premise, helping you to retain valuable clients. You should upgrade before your business gets left behind.

Posted by Dragan Sutevski

Dragan Sutevski is a founder and CEO of Sutevski Consulting, creating business excellence through innovative thinking. Get more from Dragan on Twitter. Contact Dragan