Contactless payments for high touch
The recently published Visa Back to Business Survey brings great insight into customers’ feelings regarding their shopping preferences and how business owners can adopt them. But, unfortunately, no matter how many zombie or post-apocalyptic movies we watch, customers’ importance still doesn’t resemble a post-pandemic world like most of us have always envisioned. Instead, it makes me think of Mad Max memes and the hardcore expectations dreams when it’s living life as the Bubble Boy in all reality.
However, for the most part, people are on opposite ends of the comfortability spectrum. We agree that most people prefer fist bump vs. handshake and prefer less contact with high touch areas, like payment terminals. Contactless payments are the equivalent of motion censored doors. Everyone needs a way through, but no one wants to touch it. Contactless
A survey by Entrust Datacard shows that 75% of US cardholders favor contactless as their primary payment method. However, by not having an NFC option, there is a risk of losing out on a chunk of customers. When COVID hit, no one wanted to touch or accept cash, adding in the coin shortage. Other payment methods became necessary, and technology was forced to leap forward. Visa reports that 20% of merchants have adopted contactless payments since the pandemic began.
Out of the surveyed business, 33% reported they accept less cash or have stopped accepting money altogether!
To put things in perspective;
- 78% of customers reported changing how they pay to reduce contact with high-touch surfaces.
- 63% of customers said they would switch to a new business because they offer contactless payments.
- 48% of consumers report they wouldn’t shop at a store that required them to have contact with a cashier or payment terminal
- 46% of customers said contactless payments are the most critical safety measure they want stores to implement.
While some of those statistics can cause your blood pressure to rise, the numbers provide great insight. For example, within the United States, about 57% of consumers want to shop local and boost their local economy. Visa is reporting that 78% of consumers changed the way they pay. Including:
- 49% are shopping online when possible
- 48% are using contactless payments
- 46% are using cashless often
Because of the forced shift in technology advancements, 70% of those surveyed reported trying new payment methods for the first time. Meaning the tap and go, online, curbside pick up, and ordering online for in-store pick-up options. In comparison, 67% of businesses report trying new methods to keep customers safe and comfortable. One of the most significant changes was adding online payment options or Point Of Sale upgrades to offer contactless methods. Contactless
Retail locations
Brick and mortar retail stores benefit from offering a contactless checkout experience. It’s as simple as ensuring your terminal is set up for NFC or the tap and go. People may not be touching the equipment as often, but it still needs to be sanitized. If your customers know you are taking their safety seriously, you gain loyalty and trust. Having visible signs and website updates with your COVID policies and procedures, customers will have peace of mind that they are not at risk while visiting your establishment. Curbside picks up with either a mobile payment option or taking the order and payment via the phone is an excellent alternative for those who prefer not to go inside.
Ecommerce options contactless payments
Businesses had to pivot on a dime and find ways to care for their customers; the world didn’t completely halt during the lockdown. Consumers had to leap other shopping and the checkout experience. Some grew to love the convenience, while others loved the quicker process by cutting outlines and time spent in the store.
Phone Payments
If online payments don’t fit your vibe, you can opt for payments made over the phone. Virtual terminals are the way to go when you need to accept payments without the customer physically present to run a payment.
We’re tired of the ‘new normal’ and the uncertainty of the future, but we do know these payment options are here to stay. So, although the launch in advancements has been tremendous, we will keep moving forward and keep searching for alternatives that will keep consumers and business owners in sync for the needed shopping experience.
Schedule with us to look at options to help you help your customers. With our rate guarantee and stellar customer service, you will be on your way to more success and growth.