Contactless payments

Swipe, insert, tap and go, or online, purchases are completed in seconds — no bill counting or trips to the bank necessary.

For customers, speed at the point of sale means fewer leaving to avoid long lines at checkout. Cashless payments simply perform faster than cash transactions. They also save time and can cut funds management costs. You and your employees don’t have to worry about counterfeit bills, change-making errors, or cash storage and accounting issues. No more managing register balances. No more transporting money to and from the bank. Your cashless transaction funds give you quick availability — as soon as next business day at Chase.

Digital payments are safer than cash for consumers; less cash for employees to handle reduces your fraud and theft concerns.

Contactless payment options can provide a level of security that cash simply cannot. Consumers embrace the fact that digital transactions not only save time and make carrying large sums of money needless; they also remove the risks of losing receipts needed for disputes or returns – they can be easily retrieved later online. Mobile wallets encrypt all uploaded card data so it can’t be seen by anyone, even you, the merchant. And various forms of authentication (e.g., passcodes, fingerprints or other biometrics) make digital wallets safe even if the phone is stolen.

On the receiving side, most card companies offer merchants purchase and fraud insurance that isn’t possible with cash payments. And, if you accept mobile wallets, your contactless-enabled terminal uses tokenization technology, foiling card number theft or skimming at the point of sale. Merchants are further protected using the same card and address verification services available for traditional card transactions. Plus, investing in the latest compliance technology gives you insurance against fraud on these digital channels.

The increased focus on health risk in today’s environment raises this feature’s importance to your employees and your customers.

The pandemic has made minimizing physical contact top of mind for many consumers. That includes safe distancing from store staff and other customers as well as surfaces of all kinds, including payment terminals. No surprise, then, that it has fueled the increase in cashless transactions at retail. Paper bills and coins are natural carriers of germs. Heightened caution makes your customers welcome cashless payment options as a feature of doing business with your enterprise.

Offering multiple payment options can build sales while potential transaction data mining can fuel more effective marketing and promotion.

Today’s consumers want to pay when, where and how they want. Setting up cashless, contactless payment acceptance options not only can help grow sales but also can improve customer perception of your business and foster brand loyalty. The level of "connected technology" offered by all contactless payments – and digital wallets in particular – generates actionable data that can help you tailor coupon or other discount offers to individual customers and time your sales for maximum effect. Chase Merchant Services offers sophisticated transaction analytics to demonstrate targeting opportunities specific to your business. More customer insights = more customized interaction = more perceived value for your customer.