Many people labeled 2012 the year that ‘Contactless Payments’ would take off heavily and while hundreds of thousands of stores now include NFC card terminals it has only recently been that smaller businesses could join the competition thanks to third party merchant services.
Hertfordshire, UK -- (SBWIRE) -- 12/31/2012 -- Near Field Communication has been developing quite steadily over the last several years with credit card issuing giants Visa and Mastercard providing their own brand name terminals at large public events and Barclaycard providing consumers with the ‘contactless cards’ to make these speedy payments.
During the early months of 2012 we saw the major high street banks carry out a large scale campaign to send replacement credit and debit cards to their customers and initiate the rollout of the new ‘contactless card’ that allows people to pay simply by ‘waving’ their card in front of a card terminal.
As well as UK residents now having the capability of making ‘NFC payments’ with their new contactless card, phone manufacturers such as Samsung have unveiled new phones in their collection that act in the manner as a NFC card when waved in front of a contactless card reader.
With the official ‘Contactless’ advertising campaign being promoted jointly by Mastercard, Visa and The Card Association, gradually the public is becoming aware of the little ‘contactless symbol’ in major stores such as the Co-operative and Fast Food Restaurants. The major concern has been people adapting after their initial concerns over security and while this new method of payment is incredibly simple it also has restrictions on how much you can spend and this prevents high value fraud attempts.
Special events such as the Olympics and ‘Wireless Festival’ promoted NFC payment in the summer of 2012 and this has left an impression upon youngsters or anybody who received a contactless bracelet or keyring to make cashless payments.
Prior to the second half of the year small businesses were struggling to take advantage of this new technology because acquiring banks were quoting high processing fees but card terminal manufacturer Ingenico recently supplied payment processing brokers with their new range of NFC payment devices. Seymour Direct are one of the longest serving merchant account providers across the UK and have recently begun renting the new Ingenico iWL250 and ict200 range to merchant’s. Using a third party like Seymour Direct means that businesses can get approved a lot easy and receive lower rates than if they were to go to a payment processing bank themselves.
Seymour Direct can be reached at the following addresses:
Tel: 0800 980 4007