Ever stood in line, tapping your foot impatiently as someone fumbles with cash or swipes a card multiple times? Those days are fading fast. Contactless payments are not just a trend—they're the new norm.

Under normal circumstances, I use my ATM card everywhere I go; I plug my ATM card to pay using the embedded chip in my card, though that’s mostly because my card is so worn out, the strip doesn’t even work anymore. 

But recently, I left my card at a restaurant one night and didn’t realize it until the next day.  Instead of trying to remember WHERE I left the card, I simply deactivated it via my bank’s app  and immediately ordered a new (physical) one.

 Unfortunately getting a new card was going to take 3-5 days to receive.  So what did my bank do?  They automatically made the card available for use in my digital wallet, which I rarely use.  When this happened, I found more and more businesses accept Apple or Google Pay and I experienced literally NO interruption to my daily routine because of it. 

I can tell you, if every OTHER business is adopting something and customers are expecting that something, you certainly don’t want to be the one business that insists on carrier pigeons to conduct a transaction.

The first rule of business:

Let's dive into five other compelling reasons that might just change the way you think about transactions forever.

Speed: The Fast Lane of Transactions

Time is Money, and Contactless Payments Saves Both

In a world where every second counts, contactless payments are your secret weapon for efficiency. I am an efficiency expert by trade and training; I love numbers and statistics. There’s always some way to make processes more efficient. Contactless definitely checks the box in this regard.

Benefits:

• Transactions completed in seconds

• Shorter queues mean happier customers

• Increased throughput during peak hours

Pro Tip: Time your average cash, card, and contactless transactions. The difference might surprise you!  If you’d like a professional to take a look at your business processes, please reach out and let’s chat.

Security: A Force Field for Finances

Safer Than Cash, More Secure Than Swipe

Worried about fraud? Contactless payments have got you covered.

Security Features:

• Encrypted data transmission

• Unique transaction codes for each purchase

• No need for customers to hand over their card

Did You Know? Contactless cards have lower fraud rates than traditional magnetic stripe cards.

Hygiene: The Touchless Revolution

Clean Transactions for a Health-Conscious World

In a post-pandemic world, minimizing touch points isn't just nice—it's necessary. For those of you who knew BreathEasy during the Pandemic, you know that I wasn’t a big fan of wearing a mask everywhere. In fact, I fought it and even developed the BreathEasy App to help support businesses that refused to mandate it in their stores.

But you know what I DID do? You want to know how the Pandemic changed my behavior? Well, two things, honestly.

1. I no longer trust any government entity as far as I can throw it, and

2. I wash my fruits and vegetables now! (I’m no idiot).

I think I remember reading an article once many years ago that 90% of all physical currency had cocaine residue on it from the drug trade. And we’re all familiar with the Fentanyl epidemic.  So, the less I have to put my hands on something out in the real world, the better, in my opinion.

Hygiene Advantages:

• Reduced physical contact between staff and customers

• No need to handle cash or shared pens

• Aligns with customer expectations for cleanliness

Customer Preference: Give Them What They Want

The Payment Method of Choice

Customers love convenience, and contactless delivers in spades. I’ve already spoken about not being the one company that doesn’t make paying as easy as it could be.  You know who doesn’t like contactless payments?  Hobos begging on street corners. God help us when the government starts handing out Square card readers...

Benefits:

• Quicker checkout process

• No need to carry cash

• Seamless integration with digital wallets

Stat Alert: 69% of millennials prefer contactless payments. Are you ready for the future?

5. Data Insights: Knowledge is Power

Every Tap Tells a Story

Contactless payments don't just process transactions—they provide valuable data.  You’ve heard that we are in the “Information Age,” right?  First there was the Stone Age, The Bronze Age, The Industrial Age…Now we’re in the Information Age. This becomes a very big deal when it comes to marketing (which you can read about in my book, The Tradesman’s MBA) to identify which marketing efforts work best.

But data, in and of itself, is invaluable to the shop keeper when attempting to discern trends, etc.  I’m a data guy at heart, so when I engage with a company to help improve their processes or manage their books, I always am looking at and for the data to tease out insights that go unseen otherwise.

Data Advantages:

• Track peak business hours

• Analyze customer spending patterns

• Inform inventory and staffing decisions

Tool Tip: Many POS systems offer analytics dashboards. Make sure yours does! And if you’d like someone to look at your data (accounting, marketing, inventory, etc.) and save your company scarce dollars through efficiencies, please reach out to chat.

Bringing It All Together

Remember, adopting contactless payments isn't just about keeping up with technology—it's about staying ahead of customer expectations and streamlining your operations. By embracing this technology, you're not just changing how you take payments; you're transforming your entire customer experience.

Ready to tap into the future of payments? Start by talking to your payment processor about contactless options. Many offer easy upgrades to existing systems. And don't forget to spread the word to your customers—a simple "We now accept contactless" sign can work wonders.

The world is moving fast, and payments are moving faster. Don't let your business get left behind in the tap-and-go revolution. After all, in the race for customer satisfaction and operational efficiency, every second—and every tap—counts.

Sincerely

R. Altomare

Founder, BreathEasy Business Coaching and Consulting

The Shameless Plug

If you'd like to learn more about this and other key topics that help you manage your business efficiently and successfully, may I recommend The Tradesman's MBA? It covers all the topics you need to operate your small business effectively and efficiently. Planning, Strategy, Finance, Accounting, Inventory Management, Marketing and Project Management are all covered to help you avoid costly mistakes.

And, if you'd like to learn how BreathEasy Business Coaching and Consulting can help you lower your costs and keep more money in your pocket, please fill out the contact form on the homepage and I'll reach out within 2 business days to discuss your particular challenges.