Phone Number Mobile View

 

Phone Number Desktop

 (1) 877 490 6333

Get a Demo

Get a Demo

Contactless Payments: Say No to Germs and Yes to Security

The payments buzzword of 2020 and 2021 was “contactless”.

It is clear that contactless payment is the way of the future and the present. In its simplest form, a contactless payment is completed with the tap of a card or device over a terminal that can process the transaction.

From chip-enabled credit cards, to mobile wallets, to employee badges and wearable bracelets, consumers are now tapping various devices to make payments safely and conveniently.

In hospitality and food and beverage, contactless payments provide a number of benefits.

 

1. Reduced cash helps lower operational expenses and provides more security

Reducing the amount of cash that your business handles, makes you less vulnerable to cash theft, whether by employees or through other sources. It also lowers operational expenses that come with cash float management practices. Fewer people now carry cash, as they prioritize the security, reward points, and other benefits of credit and debit card payments. With bill splitting becoming easier than ever in hospitality settings through point-of-sale and other tools to help process payment, there are fewer reasons than ever to carry cash. Reducing the amount of cash that your business accepts on a daily basis will help your bottom line as you transition to alternative, more popular methods of payment. 

 

2. Going cashless and contactless is more hygienic 

As reported by Insider, “One study found that physical currency changes hands at least 55 times a year, or almost once a week,” demonstrating just how many people and germs can come into contact with every piece of cash you are handling at your food service operation.

Germs are on everyone’s mind with customers seeking more hygienic dining experiences and methods of payment than ever before. Contactless payment methods offer diners a great option: to pay using only the devices or cards that they are already in contact with. This eliminates the need to sanitize or engage with other devices during payment, promoting fewer potentially germ-infested interactions. Reducing the amount of cash being handled reduces the spread of germs.

 

3. Contactless payments are quick and secure

According to Visa,  over 40% of their in-store transactions outside of the US use the ‘tap’ function. Patrons feel confident and comfortable that their transactions are secure when using the contactless method. Encryption measures make contactless transactions secure and also extremely fast by eliminating the need for a signature or PIN entry.

As we know, contactless payments go beyond credit and debit cards enabled with EMV. Employee badges, wearable devices such as bracelets, and even building access fobs all possess the technology that allow for contactless payment to a specific type of payment method. An optimum example of the success of non-credit card contactless payment can be found in the revolutionary payroll deduction via employee badge module.

By enabling staff in a corporate dining setting to process payment using an existing employee badge that has either a pre-programmed meal plan or payroll deduction program set up, diners find themselves in a very convenient situation: never having to bring anything other than their badge to the cafeteria. These payments are also secure and speedy which helps to reduce cafeteria wait times. 

These payments are facilitated by either barcode technology, where the barcode on the badge is scanned, or through RFID-enabled technology, which is able to read a variety of frequencies with ease to link the card to a set of credentials.

If you’re looking to go contactless, think beyond simply your credit and debit card strategy and prioritize giving people other ways to pay. Additionally, many gift card providers are now building their gift cards into mobile wallets, allowing guests to use their mobile wallets to check out the same way they would with a physical gift or loyalty card.

Shannon Moyes

Director of Business Development – Volanté Systems


Learn more about how Volanté can help your business.