As technology advances, we’ve seen changes in the way payments are processed. One of the most recent developments is the use of contactless payments, sometimes called “tap and pay.” This trend in the credit card processing industry might be one of the most notable changes that business owners need to watch.
Here are a few things you need to know to ensure you are meeting the needs of your customers:
- Integrating Technology: As EMV cards and mobile payments become more popular, the technology has been changing and adapting to accommodate these shifts. As a business owner, it is essential to ensure you are staying current by implementing integrated technology. These solutions enable you to accept many forms of payment from one terminal: chip cards, magnetic strips, and mobile payments.
- Potential for Vulnerabilities: With any payment system, there is a potential that vulnerabilities could impact the security of the transactions. This rings true for contactless payments as well. Even though the technology is tested and proven, it is important to be diligent about the equipment that is being used. Don’t let yourself be at risk for increased fraud. Instead, select credit card processing services from a merchant provider you can trust. Be sure your technology is up-to-date, and you are staying current with any applicable upgrades that might be needed in the industry.
- Adapting to Serve the Needs of Your Customers: With many in-person and online shopping options, customers have a variety of options available for their purchases. If your business doesn’t accept the preferred form of payment, then it is possible you might lose the sale because the customer may choose to go elsewhere. You can be proactive to ensure you are keeping your customers and maximizing transaction opportunities by accepting all forms of payment that might come through your store: EMV chipped cards, contactless payments, and more.
Are you staying current with the latest developments in the payment processing industry? Our team is here to answer your questions and ensure you are staying up-to-date with the technology that will protect your business. Call today to learn about the services that are offered.