Are contactless payments just a fad? Will they really help your business grow? Well, according to Juniper Research, contactless payments are expected to increase from $178 billion in 2020 to more than $1.5 trillion in 2024. That’s a lot of transactions.

There’s a reason contactless payments are on the rise, even without the added health benefits for safely dealing with COVID. Without a doubt, your customers may feel more comfortable shopping at your business if they don’t have to hand over their credit or debit cards or touch your payment acceptance devices.

Adding contactless (NFC) payments has other benefits too:

It’s Safer – Your business is much less likely to take a fraudulent transaction. While no payment method is 100% risk free, the likelihood of fraud is greatly reduced when you accept contactless payments because they use EMV technology (chip cards). This means you’ll spend less time resolving disputes and more time helping your clients .

Contactless payments are faster – What sounds better to you? Clients take out their card, hand it over to you, watch you run it through a payment device, wait for an approval, and then you hand them their card back or your customer simply taps their card against your payment system. Pretty easy choice, right? Faster transaction times means you can move customers through the checkout with more speed and less effort.

People spend more – Reporting shows that folks who use contactless payments tend to spend more than people who use traditional credit cards. Small to medium sized businesses need to capture every dollar they can and making payments easy, convenient, and secure is one way to do that.

Are contactless payments just a fad? Will they really help your business grow? Well, according to Juniper Research, contactless payments are expected to increase from $178 billion in 2020 to more than $1.5 trillion in 2024. That’s a lot of transactions.

There’s a reason contactless payments are on the rise, even without the added health benefits for safely dealing with COVID. Without a doubt, your customers may feel more comfortable shopping at your business if they don’t have to hand over their credit or debit cards or touch your payment acceptance devices.

Adding contactless (NFC) payments has other benefits too:

It’s Safer – Your business is much less likely to take a fraudulent transaction. While no payment method is 100% risk free, the likelihood of fraud is greatly reduced when you accept contactless payments because they use EMV technology (chip cards). This means you’ll spend less time resolving disputes and more time helping your clients .

Contactless payments are faster – What sounds better to you? Clients take out their card, hand it over to you, watch you run it through a payment device, wait for an approval, and then you hand them their card back or your customer simply taps their card against your payment system. Pretty easy choice, right? Faster transaction times means you can move customers through the checkout with more speed and less effort.

People spend more – Reporting shows that folks who use contactless payments tend to spend more than people who use traditional credit cards. Small to medium sized businesses need to capture every dollar they can and making payments easy, convenient, and secure is one way to do that.