APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    5 Benefits of Contactless Payments

    Digital wallets partner up with merchants to offer exclusive discounts to users, increasing the wallet usage and shopping at the merchant. This data from past purchases can be used to display targeted discounts on digital wallets.  

    5 Benefits of Contactless Payments

    By

    Apac CIOOutlook | Monday, August 17, 2020

    Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

    Digital wallets partner up with merchants to offer exclusive discounts to users, increasing the wallet usage and shopping at the merchant. This data from past purchases can be used to display targeted discounts on digital wallets

    FREMONT, CA: Contactless payment is a method of payment that uses a debit, credit, or smart card with the help of RFID or NFC. Therefore, they do not require a signature or a PIN, making it faster than the traditional form of swipe payment.

    The contactless payment symbol looks similar to the WiFi logo but turned on the side, which can be seen on merchants that support it or a POS terminal. Bringing the card close to an inch or two from the symbol makes an instant beep, a green light, or a checkmark to show that the payment has been successful.

    Customers with digital wallets can tap or scan through the app from their smartphone on the POS terminal with an NFC/QR and make payments quickly and instantly.

    Here are five benefits of contactless payments:

    Faster than Regular Card Payments

    Retailers have seen a rise in the average transaction value because of the speed, convenience, and security of contactless transactions. Customers are not restricted by the amount of cash carried or annoyed by the inefficient checkout process, leading to a decrease in abandoned sales.

    Promote Increased Card Usage

    Contactless payments are more convenient than traditional methods, and consumers find it a more reliable way to do transactions. This results in the gradual transaction from increased usage.

    Enhances Security and Reduces the Risk of Fraud

    Contactless payments have the same protection as EMV chips, making it safe compared to cash transactions. The in-built protection does not allow the same transaction to happen twice, and if prevented, the details and numbers cannot be decrypted as unique numbers are used for the transaction that does not correspond to the actual card numbers.

    Contactless Payments Boost App Adoption

    For retailers that provide their digital payment systems, contactless payment can drive up app adoption rates. Cashless transactions act as a motivation for shoppers to download the app along with the added benefits of exclusive discounts, coupons, and more.

    More Convenient for Consumers

    Swipe and pay cards need signatures or a PIN, unlike mobile contactless payments, that can allow users to make payments if they forget their cards or wallets.

    See Also: Top Payment and Card Solution Companies

    More in News

    The Journey Towards Smart City Development

    The Journey Towards Smart City Development

    Harnessing Big Data Analytics to Enhance Business Strategies

    Harnessing Big Data Analytics to Enhance Business Strategies

    AI's Role in Apac's Digital Transformation Journey

    AI's Role in Apac's Digital Transformation Journey

    Impact of Digital Transformation on Retail

    Impact of Digital Transformation on Retail

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/5-benefits-of-contactless-payments-nwid-7679.html