When Covid-19 first hit the US in 2020, there was a lot of concern about how consumers were going to pay for things amidst a pandemic. Cash was immediately viewed as undesirable, as it changes hands so many times spreading germs in the process. Cards were viewed more favorably, but using them in the traditional way—i.e. having to swipe and touch a keypad—was not a great option either.
However, businesses that incorporated modern payment processing hardware—like systems that can process NFC payments—thrived during the pandemic. That’s because customers knew they could do contactless payment at these businesses and avoid putting their health at risk.
What Are the Benefits of Using Modern Payment Processing Hardware?
Increased Sales and Revenues
With NFC payments, customers can check out faster, which means more customers can be served in an hour as compared to traditional card payment methods. Faster checkout also means that lines won’t be long. If customers can pay fast and avoid standing around waiting to pay, they’re more likely to be satisfied and shop with the merchant again.
If an outdated grocery store payment processing system can check out 30 customers in an hour, and an NFC payment system can check out 50 in an hour, it’s clear that incorporating NFC payments can increase sales and revenue. If a business also utilizes multiple mobile point-of-sale (POS) systems that are NFC-enabled, even more sales and revenue can be generated.
Easy Integration
Integrating NFC payments is simple. Especially if a business uses modern credit card processing hardware, as most of these devices are already programmed with NFC capabilities. If a business partners with a reliable and helpful payment processing company, installation can be handled entirely by an experienced technician. Merchant Industry, the leading merchant service and card processor, sets up both contactless card and mobile wallet payments for their clients, and they’ll have things ready to go on installation day.
Newer Model Terminals Are Compact and Easy to Use
Gone are the days when businesses needed bulky POS systems to process payments. Now there are so many compact and easy-to-use terminals out there, and sales associates can even carry specific terminals around with them so customers can pay in the aisles or at the table while dining in a restaurant. With more places to pay, more customers can be served. And best of all: paying at a small terminal is quick, convenient, safe, and easy.
What Card Holders Want When They Pay
Card holders love using their cards, but some become so fond of them that they want to completely avoid scratching or dirtying their cards. These card holders love NFC-enabled POS systems, as these systems can process a card without ever altering its appearance. As well, if a customer has their card on their phone, the card never has to leave their wallet.
If a card holder is guaranteed a smooth, safe, and effortless transaction, using cash looks obsolete in comparison. Using contactless payment with a card takes mere seconds, whereas a customer can spend over a minute waiting for a cashier to get change when paying with cash.
Merchant Industry’s Payment Processing Tech Is Taking Merchants Everywhere to the Next Level!
If you’re looking to incorporate the best credit card machines on the market into your business, get in touch with Merchant Industry. They can bring NFC payments to your business, set up a duo mid merchant account and the associated hardware, and make payment processing easier and more affordable in a variety of other ways.
About Merchant Industry
In 2007 Merchant Industry was founded by CEO Leo Vartanov on the principle that businesses should be able to purchase credit card machines and merchant accounts at an affordable price while also backed by great service. It was a normal goal at the time, but it helped to change the entire industry. Through Leo Vartanov’s leadership, Merchant Industry pioneered a call center structure to the credit card processing industry Now, 15 years later with well over 20,000+ merchants processing over $5.5 billion per year, Merchant Industry sets the standard for price, customer service, ethics, and integrity.
