Businesses Advised To Offer Contactless Payment

Companies looking into retail hardware support might also want to consider ensuring that their bricks and mortar stores provide contactless payment facilities in order to keep up with consumer demand.

According to new research from Lloyds Bank Cardnet, 12 per cent of people do not think that enough retailers currently offer this, while nine per cent think that the spending limit of £20 is too low.

The biggest advantages from a customer perspective for using contactless payment is speed and ease of shopping, although 40 per cent did state that they would not be deterred from spending their money in a shop if contactless payment was not readily available.

A debate does seem to be ongoing regarding the spending limit for contactless, however. While some think that £20 is too low, 57 per cent said they would not want it to be increased to more than £30.

“Whilst certain consumers have currently said that they do not mind shopping with businesses that do not offer this facility, we would anticipate that, as more and more people become comfortable with paying through contactless, and appreciate the ease of it, expectations around retailers offering it will increase,” director of commercial cards and acquiring solutions with Lloyds Banking Group Aidene Walsh said.

By providing contactless payment, you will also enable your customers to make use of Apple Pay, the latest development to come out of the technology giant that allows people to pay for goods and services using their iPad, Apple Watch and iPhone.