Is Your Business Ready For Contactless Payment Options?

March 1, 2021

Is Your Business Ready For Contactless Payment Options?

As a small business owner, you may be considering upgrading your current point of sale (POS) system to one that includes support for contactless payments. One of the challenges of COVID-19 for many business owners has been the need to sanitize between each customer or processing of cash payments with contact. Having an option to provide contactless payment to your current system can improve customer service, as well as reduce the need to sanitize. Contactless cards, smartphones and smartwatches are all convenient and quick ways to pay while avoiding unnecessary contact at the point of sale.In a recent study from Visa it was reported that 20% of small businesses have adopted contactless payment solutions in response to COVID-19. There are several benefits to contactless payment we will review to help you determine: Is your business ready for contactless payment options?

From the Consumer’s perspective

Easy to use
Shorter lines and quicker transactions at the checkout are significant advantages of contactless payment. No hassle of punching in your PIN or handling cash at checkout.

Improved security
Tap-to-pay technology is more reliable and secure than other forms of payment. The chip technology protects you against any fraudulent purchases through encryption and dynamic data technologies.

Loyalty benefits
Most loyalty programs offered by stores sync with the tap-to-pay smartphone that you use for payments. Automatically loyalty points and benefits are applied to your account. Some banks also offer cashback and incentives when you use the contactless payment feature.

From the Business’s perspective

Improved operational efficiency
With reduced workforce requirements, adopting tap-to-pay technology is a quick process. Contactless payments reduce the time businesses need to spend on counting cash and operating card machines.

Better customer experience
You can optimize your customers loyalty programs and improve customer relationships by offering contactless payment with a smoother and quicker checkout experience.

No additional cost
Businesses pay the same transaction fee with a regular credit card. Offering a contactless payment in your store or on the go does not attract any additional fees.

Fraud protection
Contactless payment technology is secure and encrypted to discourage any hacking attempts. Better transaction security means that businesses get their money without any disputes.

So, is your business ready for contactless payment options?

In processing your payroll we offer our customers ACH, wires, electronic submission and paper drop off. While we do not offer POS or credit card processing for your business at CPS, we do understand the importance of finding systems that make your business as efficient and profitable as possible. We have reviewed the perks of contactless payment for business because we recognize the benefits and importance with changes set in motion by COVID-19. As payments increasingly become more connected, setting your business up for these methods ensures you are offering a convenient, safe and frictionless experience for your customers. Exceeding your customers’ expectations could make a difference in increased sales and long-term loyalty. Ultimately it has to be the right decision for your business and your customers.

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Our Mission Statement

Consolidated Personnel Services, a Professional Employer Organization (PEO), provides services to our clients that return the highest value for their investment. We provide services such as Payroll Administration, Worker’s Compensation Insurance & Claims Management, Benefits and Human Resources

We continue to exceed customer expectations by consistently delivering superior service to our clients due to an internal business culture that promotes employee empowerment, open communication, and a commitment to honesty and integrity.

This philosophy helps eliminate surprises, maximizes client satisfaction, and client retention. We partner with you to serve your business needs, so you can get back to business.

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