Tap to Pay
Convenience and security are important to consumers when conducting everyday financial transactions. Many people will admit they would opt out of a transaction that is too complicated, takes too long or inconveniences them in anyway.In order to satisfy new consumer behaviors, credit and debit card technology is rapidly evolving. One of the hottest trends is the adoption of contactless payment options. Contactless payments are simply defined as, a transaction that is made by tapping either a contactless chip card or payment-enabled mobile or wearable device over a contactless-enabled payment terminal. Contactless enabled Debit and Credit Cards, phones and smartwatches all use this contactless technology.
In this article, we’ll demonstrate how the innovative Tap to Pay technology meets the consumer demand for a safer more convenient way to complete their transactions.
Clearly Secure
Of course, convenience means nothing without the security to protect your card from fraudulent activity. By using a combination of chip technology, Near Field Communication (NFC) and Radio Frequency Identification (RFID), contactless cards are actually safer than the traditional swipe or insertion of a chip credit or debit card. This is because each transaction uses a one-time, unique digital code to facilitate secure communication between your card and the card reader. This dynamic authentication process significantly reduces the risk of card fraud and unauthorized access to your financial information. By embracing contactless payments, you can be confident in knowing that your transactions are protected by advanced security measures.
Because there is limited physical contact with payment terminals and cashiers, there is a reduced risk of skimming devices or malicious software stealing your card information. By minimizing physical interaction, Tap to Pay helps protect against card cloning, counterfeit fraud and other forms of tampering. In the event that your mobile device or digital wallet is lost or stolen, many digital wallets offer additional security such as biometric authentication (fingerprint or facial recognition) or a unique PIN to ensure that only authorized users can access your payment information.
Clearly Convenient
Tap to Pay transactions greatly speed up the check-out process—giving you back the time to do what you really enjoy. According to Forbes, contactless payments are up to 10 times faster than other forms of payment, which can make a significant difference in busy environments. The ease of using Tap to Pay is unmatched by other technologies. To complete a purchase you simply place your card within one to two inches from the card reader. Just tap, pay and go. What could be easier?
Expedite Check-out
Contactless checkout is ideal when speed and convenience are essential. You can use it at stadiums, fast food restaurants, gas stations, grocery stores, transit locations and more.
You’ll really notice the difference Tap to Pay can make in busy environments such as retail stores, restaurants and public transportation systems where it can be a real hassle to navigate the crowd. The speed and efficiency of a seamless transaction can reduce wait times and expedite the check-out process.
Hate long lines? Tap to Pay can shorten the time you have to stand in them. Tapping enables swift and hassle-free transactions, reducing wait times and complicated payment options. This is especially true in restaurants where wait staff need to process payments quickly to ensure efficient table turnover. Diners are able to settle their checks in a shorter amount of time.
Public transportation systems also benefit from quicker payment options by keeping commuters on schedule by avoiding the time it takes to come up with the exact change or waiting to swipe a card.
Everyday Purchases - Everywhere You Go
Tap to Pay is available most everywhere you go, making it a convenient option for everyday purchases. Whether you’re shopping at a retail store, grabbing a coffee or using public transportation, chances are you’ll find that Tap to Pay is an available option for payment. The widespread adoption of this technology has made it increasingly accessible and convenient for consumers across a wide range of industries. With this feature, you can save precious time and enjoy a more efficient and streamlined shopping experience everywhere you go. Simply look for the contactless symbol on the payment terminal, tap your card and your payment is processed.
Mobile Accessible
Tap to Pay is also available on your mobile device - you can easily add it to your digital wallet. To process a payment, simply hover your phone above the contactless symbol. You’ll appreciate the flexibility you have to process transactions quick and securely even when you don’t have your physical card with you.
Ready to Tap In?
Tap to Pay offers clear advantages in terms of convenience, mobile options and enhanced security. As your local, community bank, we are committed to providing our customers with the most secure and convenient payment methods available. With a Premier Bank checking account, you have access to contactless enabled debit cards so you can tap, pay and be on your way. Talk to a Trusted Advisor at your local branch to open an account and order your new contactless debit card today.