3 Things to Keep in Mind to Make Contactless Payments Work Better for your Business

3 Things to Keep in Mind to Make Contactless Payments Work Better for your Business

The need to adapt to better contactless and touch-free payments is accelerating; how can companies ensure they get their processes right?

While the ongoing Covid-19 pandemic has accelerated the need for customer facing services and businesses to adapt to convenient and seamless contactless payments, another reason for a growth in demand and push for technologies that support this is commonly attributed to the convenience it offers to on-the-go customers.

Read More: Are Financial Institutions Doing Enough to Boost Their Customer Experience?

The Covid-19 crisis has led to merchants, small establishments and commercial shops requiring instant upgrades to their payment terminals to accept contactless payment modes and include more mobile-friendly point of sales options.

But making these upgraded, to ensure that touch free payments work for your business these three considerations might help!

Putting Your Customer Experience First: Ensuring A Safe Checkout Process

Contactless payments and unified shopping and business experiences are here to stay. What the pandemic has forced businesses to re-imagine is how they center their experiences to enhance the checkout flows as businesses reopen, keeping in mind the safety and health of customers. In several recent surveys, when asked what customers would consider or prefer as a safe ‘’shopping experience,’’ many wanted an experience that limited in-store interactions with service staff while others showed interest in providers who could offer a convenient offline and online buying experience.

The key takeaway: the growth and implementation of contactless payments does not mean that a customer’s checkout experience will be streamlined. To limit frustration throughout the buying experience also involves effectively managing shopping queues while ensuring local health standards in line with Covid-19 management are met. Effective contactless payment solutions can play a big role in streamlining the checkout process.

Choosing a Unified Solution Is Important

A unified payment solution or ecommerce solution can help businesses consolidate payments with a single service provider. One vendor that helps manage local payments, reconciliations, international and various online modes of payment will make it easier for finance and backed teams to manage reports and finances because there will always be a single source of payments and financial data for consolidation.

Read More: Diving Deep Into The Biggest Myths of Online Payments

Upskilling Employees and Staff to Learn how to Use New Tech Enhancements Effectively

Introducing a new technology or payment system and having the staff take more time for every transaction because they are not used to the set-up is in no way going to enhance the customer’s experience.

It is important for businesses to use this time to also train employees on how to effectively use contactless payments solutions, to enable quick payments.

They should well be aware of how close contactless devices for payments or mobile wallets should be held to the terminal, they should be aware of factors like CVV/CVM limits for contactless credit cards and similar such influencing factors.

Contactless payments are here to stay!

The past six months have created new opportunities for fintechs and payment solution providers to introduce new and seamless payment models for both B2B and B2C organizations. Contactless payments are taking over how retailers, ecommerce providers and other businesses are planning their last mile deliveries and customer experience.

Read More: GlobalFintechSeries Interview with Marc Barrachin, Head of New Product Development, S&P Global Market Intelligence

Paroma Sen153 Posts

Paroma serves as the Director of Content for GlobalFinTechSeries, SalesTechStar and TecHRseries. She was a Senior Features writer and Editor at MarTech Advisor and HR Technologist and has worked as a lead content marketer and developer for various B2B publications and tech firms.

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