A Contactless Christmas: What Paywave Means for Christmas Spending
Everybody knows that Christmas is when people are most generous, clamouring to buy the perfect gifts for all their family, friends, loved ones, and even strangers. And for many businesses, it also means picking up the pace in terms of stock, service, and even payment methods. Nothing is worse than losing customers due to long queues, because humans can be naturally impatient. If we can all grab a quicker option, chances are we will! To make the most out of the increased business pace that the holidays bring, contactless payment solutions are the answer. Contactless payment solutions have been around in New Zealand for a while. But if you’re one of those people who still haven’t committed to upgrading your EFTPOS machine to accommodate the new Tap & Go Contactless Paywave Software, you may want to know what a contactless Christmas really means for Christmas spending, and for your business.

Speed Up the Transaction Process

Most new technologies will always try to speed up their respective processes – and it’s no different for EFTPOS machines and their paywave capabilities. It’s all in the name “tap and go”! No more awkward moments where your customer tries to remember their correct pin after punching in the wrong one, and no more trying to work out change after those odd discounts. They simply tap their paywave cards to the machine and they can go their own way, happy with their quick purchases, eradicating the need for typing in PINs or scribbling signatures.

Less Queues, More Customers

It’s fast for customers, but also very fast for businesses. This swift transaction process lets businesses serve more customers – significantly reducing queue lengths and queue waits. More often than not, EFTPOS terminals with contactless technology have quicker connections than their non-paywave counterparts as well, speeding up electronic transactions overall – it’s up to 7 times faster than traditional chip and PIN transactions.

Decrease Cash Handling

With more and more people opting to pay through paywave, the less a business needs to handle cash. This is very helpful for businesses – the less cash you handle, the better. There’s much more room for human error if customers use cash to pay, such as counting the wrong change or accepting the wrong amount of money in the first place. It also decreases the amount of time and human labour needed to count and process cash during end-of-day or when closing up shop.

Customers Will Spend More

According to research, credit card purchases average at $66, while cash transactions average at around $17 – that’s more than twice as much credit card purchases compared to cash payments. This statistic is especially inspiring during Christmas, when people are keener to spend hard-earned money on their loved ones for various presents and stocking-fillers. And with the convenience offered by contactless payments as mentioned above, you can be sure that you’ll see an increase in customer spending this Christmas. Talk to us today about getting your POS system upgraded to include contactless paywave and tap your way to a special Christmas with POSTECHNOLOGY!