ASCP Skin Deep


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74 ascp skin deep july/august 2020 s a small business owner trying to maneuver your way back to active business during COVID-19, you definitely want to get paid quickly and easily, but you also want to get paid as contact free as possible—for client safety as well as your own. While contactless payments have not been as popular in the United States as in other parts of the world, they are becoming more common—and more significant—as we all seek ways to limit the number of surfaces we touch outside the home. As of March 2020, VisaNet shows that 71 percent of face-to-face US transactions occur at contactless-enabled locations, up from 62 percent in March 2019.¹ Now is the time for you and your clients to embrace contactless payment technology. And, fortunately, it is easy to adopt this cleaner, safer way to pay—and to get paid. by Lisa Bakewell WHAT ARE CONTACTLESS PAYMENTS? As a business owner, when you hear the term mobile payment app, you may envision your mobile point-of-sale (POS) app. These POS apps, such as Square, Clover, Vend, etc., are those you install on your phone (or tablet), sync to your card reader, and then use to process client payments. On the other hand, contactless payments (also referred to as tap- and-go, no-touch, or tap-to-pay) are secure payments made via wireless technology (using a smart card or smartphone and mobile wallet) to pay for products and services without contact of any kind. Following is a compilation of all the tap-to-pay info you need to move forward with confidence. SMART CARD BASICS Smart cards, also known as chip cards or EMV cards, are typical credit/debit cards with an embedded microchip that were created to replace the old magnetic stripe on credit cards for added security. Until recently, clients had to insert their smart card into your POS terminal. But, with the addition of a second chip (signified by vector waves on the credit card), no-touch payments are now possible using a POS terminal with near-field communication (NFC) frequency capabilities. MOBILE WALLET BASICS Smartphones and wearables (such as Apple Watches) mimic smart cards and may also be used to complete no-touch payments. Smartphone mobile wallets allow clients to pay for products and services by holding their smartphone near your reader. Mobile payment methods use the same NFC technology as contactless smart cards, where payment Offering contactless payment options is one more way to keep yourself and your clients safe and healthy Contactless symbol A

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