Contactless payments - the future has arrived
ExCel - June 30th:- (Retail Solutions, ExCel London – Stand C19)
James McDonald, Head of Contactless Payments for Barclaycard Business explains why contactless could change customer behaviour at The Logic Group’s Solution Showcase Seminar.
Retail Solutions, ExCel London, 30th June, 2008: “The implementation of contactless payments is markedly different from that of Chip & PIN,” confirmed James McDonald, Head of Contactless Payments for Barclaycard Business, speaking at The Logic Group’s inaugural Solution Showcase seminar programme at Retail Solutions 2008.
“Contactless is not mandated; it needs to stand on its own merits. To do so, it needs to break the established cycle of consumer behaviour. We can see this beginning to happen now with the rollout of Barclaycard OnePulse, our contactless card which combines several applications: an Oyster card, credit and contactless card.”
Consistency of message is important in triggering such change in behaviour, explained McDonald. “Contactless is great for purchases of £10 or under. It’s easy to use, no contact is required and you will always have the right change.”
The value of contactless payments to retailers varies, said McDonald, with some sectors gaining greater benefits from features such as speed of transaction than others. “We will see different rates of adoption for contactless payments as a result, with snack and quick-serve food retailers making the early move.”
Is contactless the death of cash? “No, but it is the start of a major shift in consumers’ preferred payment method. We believe a significant number of cash transactions could move to a card within two years, which would significantly increase the size of the contactless business. Barclaycard Business is working closely with The Logic Group to make this happen.”
The Logic Group’s Solutions Showcase, designed to help retailers solve critical business issues in the real world, was an engaging programme of practical, thought-provoking discussions by respected industry leaders. More than 15 presentations were staged on Stand C19 throughout the duration of Retail Solutions 2008, including those from Nick Barth, Customer Insight Lead for MicroStrategy; Nigel Dasler, Vice President Sales for Global Refund; and Simon Atkinson, Managing Director, Loyalty for Ipsos MORI.
Integrated multi-channel operations, PCI:DSS compliance, understanding customer relationship, managed services and in-depth perspectives on fraud prevention are just some of the many other speaker sessions that debuted as part of The Logic Group’s Solutions Showcase during Retail Solutions 2008.
About the Logic Group
The Logic Group partners with leading organisations across Europe to enhance the effectiveness, security and profitability of their customer interactions.
The company focuses on the secure management of information and transactions delivering improved customer insight and loyalty, the provision of trusted card processing and payment environments coupled with the flexible IT infrastructures that support the enhancement of customer experience across all points of interaction.
The Logic Group aims to grow business value for its clients through innovative, high quality IT services, solutions and products that can help them deliver increased revenue, improved profit and reduced operating costs and risk.
The company is able to leverage in excess of 20 years experience in its field working with over 1,000 organisations across the financial services, retail, transport, communications, utilities, and leisure and hospitality sectors worldwide.
For more information call +44 (0)1252 776 700 or visit our website:
www.the-logic-group.com
About Barclaycard Business OneTouch contactless payment technology
Barclaycard Business was the first company to launch a live contactless terminal in the UK and is the leading provider of contactless technology, both issuing and acquiring in the UK. Its contactless expertise, innovation and product development was recently recognised at The Card Awards 2008 where Barclaycard Business won two awards for its OneTouch technology, including Best Industry Innovation of the Year.
With Barclaycard Business OneTouch terminals installed, retailers are able to offer their customers a fast and convenient method of payment on all transactions of £10 and under. Cardholders simply need to make OneTouch of their card against the reader instead of entering a PIN or signing. For the retailer, benefits include:
- Faster transactions – as quick as half a second - meaning fewer delays and shorter queues
- No need for PIN or signature – providing convenience for customers, retailers and merchants
- No customer till receipts - increases speed of transaction and reduces use of paper, so it’s an environmentally-friendly payment method
- Secure transactions – using the same reliable and secure payments network as chip and PIN
- Potential increased transaction value – and repeat custom
