Will credit cards soon be obsolete?
A New Payment Method That Might Make Credit Cards Obsolete
Inside Contactless, a leading provider of advanced, open-standard contactless chip technologies, and First Data, a global leader in electronic commerce and payment processing services, today announced they have signed a three-year agreement to develop contactless payment stickers, which First Data will market as GO-Tag products. Within this agreement, INSIDE will supply the MicroPass payment sticker prelams only to First Data-qualified card manufacturers for their productions.
This agreement can provide a strategic advantage to the core technology from INSIDE Contactless and First Data’s issuing and transaction processing power. First Data will be marketing and distributing GO-Tag products to financial institutions, major U.S. merchants, and other distribution channels in a variety of form factors.
According to the general manager of Mobile Commerce and Point of Sale Solutions for First Data, the GO-Tag Solution represents an important measure in the evolution from today’s plastic cards and fobs, offering a bridge to the future of mobile payments. And that the partnership with INSIDE Contactless enables them to offer consumers a great opportunity opportunity to turn just about any personal item, from a mobile phone to an employee ID badge, into a useful payment device.
According to Charles Walton, executive vice president of payments for INSIDE Contactless, the agreement highlighted the versatility of the MicroPass platform to support a variety of contactless payment applications and form factors, including stickers.
Consider updating your restaurant POS system to Contactless credit card acceptance in the near future as this technology becomes more common in the marketplace. Customer service is all about speed and the faster we can process transactions at the restaurant point of sale terminal the better our customer experience will reflect on the value of our services.
The author of this article writes for POS-For-Restaurants.com, a VP of Customer Relations with over 20 years experience in restaurant point of sale system, helping restaurant owners nationwide increase their efficiency and bottom-line profits.
To learn on how our national POS network of restaurant point of sale specialists can help your business achieve greater success in these difficult economic times, visit POS-For-Restaurants.com.
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