Tech giant Google has announced it is to launch its #contactless smartphone payments system in the UK.
The system, already available in the US, lets customers with compatible smartphones use their devices to pay at those retailers who have an ‘Near Field Communication’ (NFC) contactless terminal installed.
Given the huge rise in contactless payments made within retailers, this news is of huge importance to retailers.
We look at why . . . . . . . .
Most bank debit and credit cards now have contactless payment chips installed, and Apple Pay, Apple’s own smartphone payment system, has been live in the UK since summer 2015.
With Google’s announcement, those people who bank with HSBC, Halifax, Nationwide, Lloyds, Bank of Scotland, First Direct, and M&S Bank will be able to use Android Pay on its launch.
The understanding is that they’ll be able to use their Smartphone to make a payment anywhere a standard NFC contactless terminal is already installed — from supermarkets to public transport to the Post office and McDonalds.
One in eight purchases made on UK cards last December used contactless technology, marking a surge in the use of this alternative to loose change.
With over one billion contactless transactions conducted in the UK during 2015, more was spent using this technology last year than during the previous seven years combined!
About half of all debit and credit cards are now fitted with contactless capability.
Contactless payment allows shoppers to spend up to £30 on their card or phone by placing it next to a sensor in a shop, without the need to enter a four-digit Pin.
Customers perceive retailers who use the latest technology as being innovative and professional, providing these retailers with a competitive advantage.
As one of the most important goals of any successful retail operation is the improving of customer relationships, the speed of transactions and the convenience of the purchase process is key to creating happier customers through a reduction of queuing time.
In addition, a reduction in processing time allows your retail staff to pay more attention to the wants and needs of the customers.
Do you want to make your till transactions as quick and as efficient as possible for your customers?
If yes, then talk to RMS about the benefits an NFC terminal will bring to your retail shop/s in processing contactless payments. With our industry leading integration you could be processing till payment transactions in under 1 second!
The above is just a few of the advantages a good EPoS system will provide you with. Today, investment in EPoS systems has become the standard for ambitious retailers.
Don’t let your company fall behind your competitors. When you invest in an NFC contactless terminal you will be purposely taking steps to improve your customer service and maximise your profits. And after all, isn’t that what your efforts are all about?
Find out more today about NFC Contactless Terminals and how they can improve the profitability of your business.