As many businesses continue to offer an in-person shopping experience or consider reopening, safety is at the forefront of their minds. Keeping the customer protected helps lower the chances of further shutdowns being implemented in the future.
One of the best ways to provide a safer shopping experience for your customers is to ensure that you have contactless payment solutions to use when they check out.
But what considerations do you need to make when you are looking into adding these solutions to your business? While the thought of changing the way you currently operate can sound daunting, the truth is that it is much easier than it may seem. To help you provide safer payment options in your business, here are a few tips on offering contactless payment solutions in a post-COVID Economy.
Consider the Different Types of Contactless Payment Solutions Available
Offering your customers the right contactless payment solutions begins with understanding what technology is at your disposal and which types of payment options your customers are likely to need.
There are currently two types of contactless payment options available: credit or debit cards (Visa and Mastercard) containing near-field communication (NFC) chips and the use of mobile wallets like Apple Pay or Google Pay. Of course, there may be some devices or alternatives that fall outside of these two categories, but these are the two most important ones to focus on if you want your business to offer contactless payment options.
NFC chips offer the ability to pay by getting close to the payment machine rather than by making physical contact with it by inserting a chip into a chip reader or swiping a card. This type of payment option also gained popularity in pre-COVID times because it offers increased security, faster transaction speeds, and more convenience.
You may also see another term come up while researching this topic: radio-frequency identification or RFID, which refers to a similar technology that led to the development of NFC. But what’s the difference between the two? While NFC does fall into the category of RFID technology, NFC can only be recognized by machines when the item being read is in extremely close proximity to the device, making it more secure and much harder to steal information or accidentally pay for something at a distance.
With these two types of solutions available in your shop, you can cater to the ever-changing needs of your customers.
What Do You Need to Get Started?
Being able to offer contactless payment means having the know-how and the right equipment. There are a wide variety of payment processors out there. The key feature to look for while researching them is that the point-of-sale device you choose is NFC-capable. That is what gives you the ability to accept both NFC credit and debit cards or payments made through NFC-enabled phones with wallet apps.
Beyond this, the company that you choose to partner with will ultimately be a matter of personal preference. Take some time to evaluate your options and weigh the advantages and disadvantages (such as ease of use, overall cost, and complexity of setup) of each company on your list before making a final decision.
Don’t Forget About Your Online Storefront
Setting up your physical storefront for safe shopping is the key focus of re-opening or continuing your operations without putting your customers at risk. However, taking the time out to ready your physical business by adding contactless payment solutions also gives you an opportunity to assess your online operations and make improvements simultaneously.
This can pose a major problem for customers who may prefer to avoid in-person shopping altogether and stick to the internet. It also makes it impossible for you to run your online business efficiently and grow your operations.
While you are focused on finding the right contactless solutions for your physical storefront, focusing on finding the right contactless payment solutions for your digital storefront is essential as well. For example, let’s imagine that you run a business where you sell a product like CBD oil online that has been continuously rejected by mainstream payment processors. You may need to seek out high-risk payment gateways that ensure you are able to meet the needs of your customers. This way, should they not feel comfortable shopping at your location, they can shop for the same products online and you can continue to operate both your digital and physical storefronts with ease.
With the right payment processor on your side for both online and offline purchases, you can ultimately offer your customers a greater level of service all the way around.
COVID-19 has had a massive impact on our lives, from the way that we socialize to the way that we conduct business. In order to overcome these difficulties as business owners, we must adapt to new ways of keeping ourselves and our customers protected. If this is of importance to you and you want to get started, use the guide above to make advancements in payment solutions and give your company the boost it needs in a post-COVID economy.
About the Author | Katie Tejada is a writer, editor and former HR professional. She often covers developments in HR, business, recruiting, real estate, finance and law, but also enjoys writing about travel, interiors and events.