What are RFID Contactless Payments? Contactless Credit/Debit Cards have a chip embedded inside the card that uses RFID (radio frequency identification technology) to carry out the payment at a terminal that has the contactless symbol. Unlike magnetic stripe cards which need to be swiped at the credit card reader, these contactless cards just need to be placed in front of the reader to pay for your purchase. These types of cards have been widely used for years in many parts of Europe and Asia, as well as Canada.
There are millions of “Contactless” enabled Payment Terminals in the United States across all different type of industries, from most major retail chains to self-serve industries like Laundry, Gas Stations, Vending Machines, Car Washes and Taxi Cabs. The fact is, with Payment Technology rapidly evolving and Credit Card magnetic stripe fraud rapidly increasing, all major banks and processors are turning to these forms of emerging technologies as an answer. Not only do these types of transactions speed up the purchase, they are far more secure then the magnetic stripe cards most of us use today.
All four of the major card companies; Visa, MasterCard, American Express and Discover offer a Contactless Credit or Debit Card. This segment of the market is sure to grow substantially in the near future as the United States moves to the more secure EMV standard. Only with a SpyderWash Payment System will you be equipped to accept RFID Contactless Technology so your Laundromat will not be left behind as this type of payment becomes the norm.
Key Advantages of SpyderWash’s RFID Enabled Readers:
- No need to invest in a new system when these emerging technologies become the norm
- Simply tap your RFID credit card to our reader and start the machine – no swipe required
- Increased security
- Unique advantage over your competitors
- Can also be used for NFC Mobile Payments (Apple Pay and Android Pay) Please see the “NFC Mobile Payments” section for more information about this emerging technology
- Contactless technology (RFID and NFC) is used in many other ways besides payments, including turning your phone into a boarding pass, train ticket and more
- Contactless RFID Card users will prefer retailers who accept contactless payments
- Improving service quality and meeting customer needs increases customer satisfaction