Contactless Payments: Top Benefits & Service Providers
Contactless payment is an efficient way of making purchases without handing over the card to another person or swiping it through a machine. The inclination toward the adoption of contactless payment has propelled substantially among people, especially after the emergence of the Covid-19 pandemic, as a primary mode of transaction. A recent study has cited 16% CAGR for the contactless payment market in Asia-Pacific during 2021-26. This type of payment uses technologies like Radio Frequency Identification (RFID) & Near-Field Communication (NFC) and provides secure & convenient transactions. However, the retailers must be equipped with the technology to accept such payments. Contactless payments have several benefits, owing to which their prevalence is expanding substantially. Let’s have a look: Significant Benefits of Contactless Payments 1. Speedy Transactions Contactless payments work much faster than usual payment methods and take n...