With Covid-19 rates slowly ebbing and businesses getting back to normalcy, the big question in the minds of entrepreneurs has been how to improve safety for customers and employees. It is clear from the last two years that it cannot be business as usual for any sector of the economy. In particular, business owners must find ways of processing payments that do not involve any form of contact. This ensures that business operations are not interrupted by outbreaks. There are also numerous regulations that are being put in place by state governments as well as the federal government to ensure that workplaces remain safe for all. With all this in mind, what can companies do to ensure they remain safe? In this article, we look at some of the contactless payment options that can help business owners achieve this.
Contactless Card Machines
One of the ways that businesses all around the US are making checkout safer is through contactless credit card machines. These use a variety of technologies such as Near Field Communication) to read credit cards without any contact between the machine and the card. Customers who want to check out can hover their card above a reader which then processes the credit card transaction. One can also opt to use their phone or smartwatch to process the same transaction, making it even safer and more convenient.
This is a great option for business entities that have in-person payment processes such as restaurants or grocery shops.
Online Payment Options
In the last few months, online transactions have gained a lot of popularity due to social distancing and quarantine rules. Even now that most of these regulations are being eased, the ability to use online platforms to process payments is still as popular as ever. Businesses have the option to continue transacting online but at the same time, can also process payment online even for customers who are buying products and services offline.
One of the advantages of online payment options is that they can be seamlessly worked into the company’s websites and other online platforms. They can also be linked with point of sale systems, which makes reporting and financial audits very easy.
These are online-based payment terminals that work from any secure browser on a computer or mobile device. Virtual payment terminals allow customers to enter their credit card numbers online in order to process transactions. They are very convenient as the process can take place remotely or on-site. Regardless of the approach, there is no contact and thus the checkout process remains safe for all parties. Another advantage of this form of checkout is that it can be used for both recurring as well as one-off payments.
When processing recurring payments, the details of the customer’s credit card information are safely stored in the virtual payment terminal which makes any future transactions faster and more convenient.