Benefits of a Customer-Facing Swipe or Tap Payment Solution, an NCR White Paper

Are you ready to grow revenues and curb fraud by deploying a contactless payment solution?

To date, more than 60 million secure contactless payment cards have been issued by American Express, Discover Financial Services, MasterCard and Visa. Contactless transaction volume has started to build, and will increase as the payment card industry continues issuing contactless cards and as consumers learn more about the inherent security advantages of contactless credit card payments.

The use of magnetic-stripe payment cards also continues to grow, especially in cafeterias, quick-serve restaurants (QSRs), theatres and other small-ticket environments where they facilitate upsell opportunities for merchants while providing speed and convenience for customers. Clearly, this growth in card payments is desirable and is expected to continue in coming years. At the same time, the payment card industry is also seeing increased fraud with magnetic-stripe cards resulting from employee skimming, network breaches and, sometimes, “wrong amount entry fraud” by sales clerks.

Merchants who plan to begin accepting payment cards or to upgrade their existing point-of-sale (POS) payment solution need to consider future-proofing their investments. They can do this by deploying an integrated swipe or tap customer-facing payment solution that will read magnetic-stripe as well as contactless cards.