(MENAFN- GetNews)The adoption of contactless payments improves consumer confidence in paying for your goods or services.
July 7, 2021 – National Consumer Financial has announced that they will be offering contactless payments to small and medium-sized businesses. This new addition is in response to the ever-changing needs of merchants, who are looking for a way to save money and time on transactions.
This new contactless payment option will allow small/medium businesses to accept various types of payments including Apple Pay, Google Wallet and Samsung Pay as well as other services like PayPal and Venmo. These are all contactless technologies that allow consumers to simply tap or swipe their card on the point-of-sale device without having to physically hand over the card or enter a pin number for authentication. With many different ways now available for people to pay, this is great news for merchants who want an easier way for customers to purchase their goods.
COVID-19 has created a greater demand for contactless payments, which some analysts may see as an opportunity for NCF. With this in mind, they are looking to expand their product line to include newer and more popular payment methods so that they can remain competitive in the market. According to COO Greg James, “COVID-19 is a turning point for commerce, and we want to make sure that business owners have the products they need to succeed. That’s why we’re proud to announce our improvements in contactless payments.”
The announcement of contactless payment offerings reflects the use of new card technologies. The benefits and features of these offerings are expected to benefit small/medium businesses, which have been hit hard during this economic downturn.
By installing NCF’s contactless payment solution, merchants will get EMV and NFC capabilities. The NFC technology utilizes a radio frequency field to send data between two devices – a PIN pad and a mobile device. As a result, there is no need to physically touch the payment terminal.
Such contactless terminals are now available for use on just about any smartphone and many new credit cards contain an NFC chip allowing for this two-way NFC communication. By using an ACR (magnetic induction) contactless device, when the consumer and a merchant get close to each other, data can be transferred from one chip to another. This technology works similarly to Bluetooth except for the fact that it transfers data faster and requires less power.
With the NFC technology used for transactions, none of a customer’s banking information and card number can be decrypted. This prevents RFID hacking and ensures customers that their information won’t be stolen when using mobile or tap-to-pay payments. For merchants, they will no longer have to worry about disputes over fraudulent transactions.
About National Consumer Financial
National Consumer Financial , a trusted advocate and partner of small- to medium-sized businesses in the merchant services industry, is committed to providing merchants with a transparent and seamless payment experience. Merchants receive the latest payment software and hardware along with the most up-to-date security features. NCF has experienced financial experts to simplify the payment processing experience, so business owners can focus on running their business.
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