Lately, seems like everyone is talking about contactless and touchless payment, so it would be good to first define what the term “contactless payment” truly means.
Definition of Contactless Payment = the term refers to secure method for consumers to purchase products or services using a debit, credit, or another payment device by using radio frequency identification (RRID) technology and near-field communication (NFC). This payment method works by tapping a payment card or other device near a point-of-sale (POS) terminal equipped with contactless payment technology.
Contactless payment has been around even before the coronavirus took over the world. However, the pandemic has most definitely taken the usage of this form of payment to a whole other level, since contactless payments is the perfect solution to enable a germ-free environment and a reduction in patients touching surfaces (ie: PIN pads).
Contactless Payments Trending During the Pandemic
The fear of catching Covid-19 from surfaces such as keyboards and point-of-sale card readers has increased growth in mobile wallet and contactless card transactions. It is the perception of faster transactions and safety that has kept consumers (ie: your patients) interested in this form of payment, while driving more practices to offer contactless payments functionality. All over the globe, Covid-19 has clearly driven consumers to change their behaviour and practices to accelerate their adoption of touchless payments.
Benefits of Contactless Payments include:
Increased Speed & Get Paid Faster
Contactless payments are known to improve the speed of transactions. On average, a contactless payment takes around 15 seconds, which is at least two times faster than normal payments.
Improved Security & Prevent Fraud
Contactless cards have improved the level of security that has been provided to patients over the past few years. In case your card gets stolen or you misplace it, you can contact your bank and get your card blocked and your card company will be able to block any suspicious transaction. Built-in protection inside the card helps to protect the user against any fraudulent activities using encryption.
Convenience is probably the biggest advantage of making contactless payments available to your patients. Moreover, contactless payments are not just restricted to cards. The users can interact with the help of their phones, tablets, and other accessories. The payment process is even faster since you do not have to remove the card from your wallet and the transaction can take place directly. Patients no longer need to swipe their cards and expose themselves to the virus, but rather securely store card-on-file data.
Contactless payment functionality comes in many forms, such as digital wallets, QR codes, text to pay, card-on-file, and more. Now used in nearly all industries, including oral health, and due to patient demand, will likely continue to grow in popularity.
Promote Contactless Usage
As contactless payments become more & more the norm, the transition to becoming cashless will eventually become a reality for many practices. There is no denying that contactless payments are faster, easier, and more convenient as compared to traditional payment methods.
Better Patient Experience
Integrating all the benefits above result in a better patient experience. Offering your patients to pay at their convenience through whichever mode they find the most suitable, is probably the best way to please your patients.
What’s Next for the future?
If you have not yet adopted this form of transaction, then it might be a good time to give it some thought. As we’ve said, contactless payments not only provide a better patient experience but also improve and guarantee a germ-free transaction.
Yes, it’s true, Contactless payments are here to stay!!
So what, now what?
Well, the contactless experience is sure to continue to evolve. We all knew contactless digital payments would be the future, but it is truly remarkable to see how quickly they have become the new norm.
*Tracker has partnered with Global Payments Integrated and happy to announce that our ePayments integration is now ready and available to Tracker clients.
*If you want to learn more about Global Payments Integrated and see how they can help you become a “contactless payment” office, feel free to contact them directly. Be sure to inquire about a rates analysis to compare with your current provider AND ask them about their special activation offer for new users.
To get more information on Tracker ePayments, click here to connect with Contact Global Payments Integrated directly.