Explains Why Contactless Payment Solutions Are Here To Stay

 Breaking News
  • No posts were found Explains Why Contactless Payment Solutions Are Here To Stay

April 26
08:48 2022 Explains Why Contactless Payment Solutions Are Here To Stay

The COVID-19 pandemic has changed a lot of things about how people interact with their environments, including how they shop. For one thing, it dramatically sped up the widespread adoption of contactless payment technologies. Though some of the changes that occurred during the pandemic, such as bans on reusable shopping bags, have been dropped, others are here to stay. Read on to find out why contactless payment methods fall into the latter category.

What Is Contactless Payment?

Before moving on to discuss why Americans have been so quick to adopt contactless payment technologies, it’s worth offering a little additional info about what they are. The term refers to any secure method for purchasing goods or services using payment devices that feature radio frequency identification (RFID) or near-field communication (NFC) technologies. Functionally speaking, contactless payment allows consumers to simply tap their cards, phones, or other devices on or near a point-of-sale terminal to make purchases. According to, many retailers refer to the process as tap-and-go.

Today’s Consumers Want to Stay Contactless

Americans are usually quick to adopt new technologies, and contactless payments are no exception. It’s not just digitally native Gen Z and millennial consumers that prefer contactless payments, either. Thanks to the pandemic, Gen X and baby boomers now prefer contactless payment solutions, and many people from all generations avoid shopping at stores that don’t offer them as an option.

The Banks Are Already On-Board

Banks, credit unions, card processors, and other financial service providers know how important it is to keep up with shifts in consumer preference. There are now 22 banks and credit unions that offer contactless payments. Although some community banks have been slow to adopt the new technologies, it’s becoming increasingly clear all the time that the future is touchless.

The Benefits for Business

It should be clear by now that contactless payments are becoming increasingly popular among today’s consumers. Because most banks have begun to support the technology or plan to do so in the future, the adoption of contactless payment cards should only continue to speed up. Businesses that take advantage of services like GoSite can get a competitive edge over others who have been slow to jump on board with the new trend.

The benefits of contactless payments to businesses are just as prevalent as they are to consumers. Accepting contactless payments can speed up the checkout process, or even make it possible to collect payments from customers independently of checkout lines. People who don’t have to spend as much time in lines tend to be happier with the services they receive, but having more satisfied customers isn’t the only benefit of adopting contactless payments. Speeding up checkout times also improves a retailer’s efficiency.

Today’s Contactless Payments Are Incredibly Secure

Some people, including not just consumers but also business owners, have been hesitant to adopt contactless payment technologies because of security concerns. Thankfully, those concerns are misplaced. Today’s contactless payment transactions are incredibly secure. Unlike typical swipe-to-pay transactions, contactless payment card details can be protected by tokenization.

The Future Is Now

Contactless payments are the future of retail, and the future is now. Business owners need to adopt relevant technologies if they want to stay competitive. Take the time to investigate options ASAP.

Media Contact
Company Name:
Contact Person: Media Relations
Email: Send Email
Phone: 407-875-1833
Country: United States

Related Articles