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In order to thrive in the retail landscape when the likes of Amazon Go exist, retailers need to create a smooth checkout experience to avoid losing customers. In this article, we are discussing the benefits of contactless payments
Fremont, CA: It is evident that people want to avoid the long lines at checkout counters of brick-and-mortar stores. Customers often lose their patience and abandon carts if the checkout line is too long. In order to thrive in the retail landscape when the likes of Amazon Go exist, retailers need to create a smooth checkout experience to avoid losing customers.
Fortunately, contactless payments can solve this problem for both retailers and customers. This payment method allows customers to skip swiping their cards, which, in turn, indicates shorter checkout lines and the faster checkout experience. Besides this, contactless payments make the payment process more convenient for customers as they no longer have to carry an extra load of cash or swipe cards.
Let us know how contactless payments can be beneficial:
Faster and More Convenient than Regular Card Payments
Retailers have witnessed a huge reduction in abandoned sales as contactless transactions allow people to purchase cashless. It also provides faster transaction than card payments. People are not anymore constrained by the amount they are carrying, which leads to an increase in the average transaction value.
Payments Made Hygienically
Exchanging cash or swiping cards requires contact with others. In card payments, customers are bound to do a signature or enter pin to make a payment. However, mobile contactless payments let one maintain hygiene as it does not require any direct or indirect contact with others.
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Enhances security and Reduces Risk of Fraud
The process of contact payment is protected the same way as PIN payments, and EMV chips are secured. It is a safe method to do the transaction with in-built protection that does not allow the same transaction to occur twice, and if intercepted, the numbers and details cannot be decoded because unique numbers are used for transactions that do not correspond to the actual card numbers.
Boosts App Downloads
Many retailers provide their own digital payment systems, which can boost app downloads. People are more encouraged to download digital payment apps as it will spare them the pain of carrying cash or standing in the long line.