By Sarah Hastings, Marketing Specialist at Sage Pay
By early 2013, the remaining 2.4 million Laser cards are due to be replaced by AIB and Bank of Ireland. Replacement of Laser cards with contactless enabled Visa Debit has opened up the opportunity to introduce contactless payments.
It’s the single biggest change for retailers since chip and pin was introduced in 2005, but what’s behind the move towards contactless?
Benefits of contactless payments
- Queues move faster as transactions take less than 0.5 seconds
- Cash handling is reduced as low value cash transactions are replaced
- Potential for greater footfall/increased turnover as more customers go through the shop faster
- Particularly useful in retail environments with small transaction values such as convenience stores, coffee shops and fast food outlets.
- Increased speed and convenience as queue waiting times are reduced.
- Reduced need to carry cash for small transactions as transactions up to €15 are permitted with contactless.
How do contactless payments work?
To pay using contactless, the card is tapped when the owed amount is registered on the till (EPOS) system. The contactless card machine uses near field communication (NFC) connecting the wireless communication technology within the machine to the card within seconds.
6,000 contactless card machines have been deployed to date by Sage Pay in Ireland. To benefit from the introduction of contactless cards and get ready with a contactless machine, contact Sage Pay on 01 2311 777 or email us at [email protected].