The benefits of contactless payments for small businesses

With the world of non-contact now in full flourish, the world of payments has been pressed into an inevitable evolution. Although this evolution was already happening, it has sped up the process substantially. 

With so many options for contactless payments, smaller businesses now have the capabilities to accept all sorts of payment options more easily than ever before. 

But what are the benefits of taking contactless payments?

Security

Despite what you may have heard, taking contactless payments is extremely secure. With encrypted contactless payments, it makes it almost impossible for anyone to steal your information. 

Losing a card is far better than losing cash. You can report your card lost or stolen in minutes, and some providers will allow you to lock your card on the app directly. The current limit on contactless is £45, although this is likely to increase to £100 for further convenience. However, your card has an overall contactless spend limit, and a limit on the number of contactless transactions allowed before you have to use your PIN, so you can rest assured that if anyone does try to scam or hack your card, then the amount they can get away with is restricted.

If you have your card linked to your phone, you don’t need to panic if you have left your wallet at home.

Covid-19

Many businesses have now chosen to not take cash during this global pandemic for safety reasons. It means less contact, less chance of cross-contamination, and helps keep both staff and customers safe. The virus survives on cash for days, meaning that if a virus carrier handles money and passes it over to you and your business, you could potentially get the virus yourself and unknowingly continue the spread. We provide contactless payment solutions that will help keep you and your staff safe from handling money. 

Speed

From a customer satisfaction perspective, contactless is a time saver. Rather than waiting in queues for change to be worked out and handling cash, contactless payments can be completed in a couple of seconds. From a business perspective, it makes sense to keep those queues at a minimum; that way, you can keep businesses flowing smoothly, and your customers will be happy. 

If you require the same payment to be taken from each customer, for example, on things like fixed ticket prices, you can set up your terminal to take the exact amount of each transaction, speeding up the process substantially. 

Cash on your premises

With less cash on your premises, your business will be more secure. Having no cash in your building will mean there is a considerably less likelihood that your premises will be robbed, which can help you feel more protected. 

With so many options for contactless payments within the small business sector, things can get a little confusing. We can help you to understand the ins and outs of taking your business further through the power of contactless. 

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