YESpay’s Contactless Payment solution is an easy ‘add on’ to the EasyV range of
Chip & PIN solutions (EasyV-Retail and EasyV-Kiosk). Contactless Payments are set
to revolutionise the way retail customer’s pay for low value items. If a customer
is paying less than £10 (UK) and CAD$25 (Canada), they can 'Tap' a contactless debit
or credit card onto a contactless reader to pay. It takes milliseconds for the payment
to be taken making it much faster than handling cash. In cases where the value is
above the minimum threshold level, then the sale becomes a standard Chip & PIN transaction.
YESpay is supporting the VeriFone VX810 PIN for contactless payments as part of
EasyV-Retail.
Contactless Payments – Merchant benefits:
- Improved customer transaction volumes
- Increased revenue due to instant availability of money
- Quicker way to pay reducing customer waiting times
- Improved customer satisfaction
- Less room for error in cash taken / change given
- Competitive differentiation
- Fraud risk for contactless transactions is carried by the Card Acquirers/Issuers
In addition, the customer's experience is positive
- Easier than searching for an ATM
- Easy, convenient and quick to use for everyday purchases such as coffee, newspapers,
drinks, etc
- Less hassle than cash as easier to carry around and no coins!