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Contactless payments are a way to pay for goods and services by tapping a credit card or a mobile device with a digital wallet.
Making contactless payments part of your business is a simple way to streamline how you get paid. In a post-pandemic world, contactless payments have become more popular. The option is usually built into physical payment terminals.
Read on to learn more about the benefits of tap-to-pay and mobile payment, and the different ways to use them in your business.
Benefits of contactless payment options
The main benefits of contactless card transactions and tap-and-go payment apps are speed and convenience for you and your customers.
Contactless payments work using near-field communication (NFC). NFC technology is a type of radio frequency identification (RFID) that lets two pieces of technology talk to each other. In this case, it allows your mobile device or card to send a unique NFC signal and a card reader to pick that up for payment processing.
A digital payment option, even if it’s just a QR code that leads to a payment platform, removes friction from the buying process. Customers don’t have to worry about having enough cash on hand or pulling up their credit or debit card number. Less friction for customers usually means more sales for small business owners.
How to integrate with a payment processor
Before you get started with contactless payments, integrate with a payment processor. Acuity Scheduling can connect with Stripe, Square, or PayPal.
For service businesses, connecting a payment processor allows you to accept payment when clients book with you. This way, you’re not waiting to receive payment at the appointment.
How to use contactless transactions in a service business
Accepting payment from clients when they book is one of the most effective ways to reduce no-shows or late cancellations. Upfront payment also streamlines on-site interactions since you won’t need to handle checkout in person.
There are a few ways to handle payments at the point of booking.
Ask for payment upfront. This is an option if you need to get full payment ahead of your appointments. If a missed appointment would seriously hurt your bottom line or you need to buy materials to complete a service, it’s worth considering.
Require partial deposits. If you have a little more wiggle room in your budget, this option gives clients more flexibility. For example, you could charge 50% of the full price of an appointment to ensure you get paid for your time even if an emergency comes up.
Collect card information at booking. Instead of requiring a deposit or full payment, just ask for a payment method during booking. This option saves the card information securely on your payment platform and is often referred to as “vaulting” a card. This way, you can charge the card on file to enforce cancellation fees, process a payment in person, or collect the rest of a deposit.
How to use contactless payment methods for physical selling
Contactless mobile or card payment for online and in-person purchases is more straightforward. You likely use contactless payment systems as a buyer in your daily life.
Payments in an online store work much like they do for online appointment payments. You’ll start by connecting to a payment processor. Then, you can process payments online on your store’s checkout page.
You’ll need some kind of point-of-sale (POS) system to handle in-store or in-person sales. That could be a card reader, a QR code for a Venmo account, or an app with POS functionality, like the Squarespace app.
Get tips on handling customer returns and refunds
This post was updated on May 1, 2023.