Changes around customer payment preferences are part of the natural evolution of business. Enhanced payment security, world events, and convenience all play a key role in determining the most likely forms of payment used by consumers. COVID-19 has turned everyone’s attention to contactless credit card technology, especially as businesses have been forced to balance contactless experiences, safety, and customer service.
Adding contactless payment options into your business requires that you have modern POS technology at your disposal. Contactless payments will also require you to have specific POS features in place to gain the full benefits of the technology. This can result in discovering new and untapped ways to expand your marketplace and profit margins, all while introducing safe, high-tech payment methods that will aid in sustaining revenues regardless of what the world is doing.
Mobile Supporting Technology Must Be in Place
The entire purpose of contactless payment is to allow customers to pay without having to interact physically with a payment terminal. This makes having mobile POS technology a must-have requirement in your business. A well designed mobile, or mPOS, system will include contactless payment options as a part of its overall set of features. This takes a lot of the configuration work out of the equation and ensures a seamless transition into these new payment options.
An impactful element of offering contactless payment choices is that your staff is very likely already well-versed in the required technology. Online shopping on smartphones, viewing web-based menus, and paying for items using a bar code on a smartphone are all activities that your staff is already accustomed to using. This reduces the amount of training and support required and will limit any potential risk factors of utilizing contactless technology.
It is important to note that adding mobility options to your technology foundation will come hand-in-hand with cloud-based technologies, swinging open the doors to new points of customer engagement in addition to contactless payment options. Online ordering is simplified with contactless payment acceptance, and utilizing QR codes for both ordering and payment can present you with powerful options that can be leveraged to expand the reach of your brand voice.
Leverage Contactless Payment Ability to Broaden Brand Reach
Contactless payments introduce new ways to engage with customers in all areas of your business, including:
- The ability to leverage the cloud and cutting-edge mobility features to turn your contactless payment options from a nice-to-have into a platform that throttles your business forward. However, this is only possible if your mPOS provider can present you with an online website template that you can customize and mold to your particular needs.
- The ability to utilize contactless tools to present customers with a virtual store that allows them to safely shop. Using your mPOS-integrated online website, you can present the full content of your inventory for their browsing. When an item catches their eye, your contactless payment options allow them to pay for it. Finally, they can request a time to pick up their items via curbside delivery, all within the safety of their home and your online website.
- The ability for restaurants and foodservice businesses as well to use the same website template as retailers—your menu can be added to your customizable website to kick-start the appetites of those browsing. Diners can place their orders online, utilize your secure contactless payment options to submit payment, and request either click and collect service or delivery from your fully POS integrated online website.
Payment Processing Agreements Require Flexibility
One potential issue that can arise when starting to accept contactless payments is the necessary change of terms with your payment processor. Unfortunately, too many small businesses are locked into limiting contracts that either charge a premium for any payment processing changes made, or just will not allow any changes during the term of the processing agreement. This can quickly deflate the excitement around the potential new markets and benefits that can be realized.
When selecting the supportive POS technology for contactless payments, you will want to ask pointed questions about how payment processing terms and conditions are managed. Small businesses thrive when given the ability to be nimble in responding to changes in the business and consumer worlds. This means that your payment processing terms must be adaptable to any changes you see in your daily business.
The most notable POS solution providers will present you with flexible payment processing terms through their own industry relationships. The key service that is provided by using a no-strings-attached payment processor through your POS provider is that your vendor will be constantly upgrading their POS software. As their POS solutions evolve, so must the payment processing terms change with them, giving you two business tools that help to widen your margins.
Contactless Credit Card Technology Gives You More than Modernized Payments
Adding a POS system that delivers fully integrated contactless payment technology will also deliver new options for expanding your brand. Helping to keep customers and staff safe by promoting contactless options, such as online ordering, click and collect, or curbside pickup, are all a seamless part of the puzzle when contactless payments are added to your repertoire. The time is now to engage with a small business POS provider that treats you as a partner, and not just another invoice.
talech has a number of POS solutions that can help your business adjust operations smoothly. From reaching new audiences to engaging with your existing customers more often, we give you the tools to adapt quickly and with confidence.
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