Wave and Pay
According to estimates from Visa International, there are £250 billion worth of cash transactions a year in the UK, and 80% of these cash payments are for purchases that total less than £10
Wave and Pay will change the way you accept payments from customers for goods and services.
It will take the customer less than a second to wave their debit or credit card against a Wave and Pay reader to pay for items of £10 or under, so reducing waiting times and queues.
Retailers in the US found that the value of transactions actually rose.
Take for example, a coffee shop may well find that a customer who starts to use a contactless payment card for their daily £2 cappuccino, is more likely to make spontaneous add-on purchases, such as sandwiches and muffins.
Using a card tends to have a psychological effect on consumers – and because they aren't fumbling for cash, they tend to spend more.
A Wave and Pay reader will attach to an existing chip and pin terminal making installation quick and simple.
Debit and credit cards use RFID* to transmit data to a retailers Wave and Pay card reader, without the cardholder having to enter a pin number or sign a till roll.
For purchases over £10, a standard chip and pin transaction will be required.
For security reasons, the customer will occasionally be asked to key in their pin number.
*Radio Frequency Identification
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