Real Time Reception taking card payments for our clients

Real Time Reception has started taking payment for our clients by credit or debit card. We are now PCI compliant. That prompted me to take a look at the emergence of contactless payments and other methods of payment.

Mark Prior Edgerton from The Logic Group has written an article about payment methods, which are currently at a watershed.

Smartphone making a contactless payment

Payments can be made from your smartphone.

Most of our clients take card payments but, there is still a core who only take cash or cheque. It used to be the case that card transactions cost more to the retailer; I’m not sure that is still the case but in any case  we should be always thinking about what our customer wants, so if your customers still want to write a cheque you have to keep taking them.

There are lots of new ways to pay available now though, here are some of them.

  • Contactless – Apparently we made 370 contactless payments every minute in the last year, and increasing.
  • Low Value Contactless -Later this year the limit will rise from £20 to £30 for contactless card.
  • High Value Contactless – Over £30 we will be able to use our mobile devices using Apple Pay and Samsung are working on this too.
  • Pingit-  This sends money to the payee’s smartphone, so may not be so useful to a retailer.

I expect there will be a bit of smoothing out and I haven’t been able to find out what the fees for retailers will be, but I can foresee a time when all our money, keys etc will be held on a little digital device ( an Apple watch?) activated by fingerprint or iris. How exciting!!