A New Payment Method That Might Make Credit Cards Obsolete
At Contactless, a leading provider of advanced, open-standard contactless chip technologies, and First Data, a global leader in electronic commerce and payment processing services, announced that they have signed an agreement for 3 years in developing contactless payment stickers, which will be marketed by First Data as GO-Tag products. On the agreement, INSIDE is to supply the MicroPass payment sticker prelams entirely to First Data-qualified card manufacturers for production.
The agreement leverages the core technology from INSIDE Contactless and the issuing and transaction processing power of First Data. 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.
“First Data’s GO-Tag Solution represents an important step in the evolution from today’s plastic cards and fobs, offering a bridge to the future of mobile payments,” says Barry McCarthy, general manager, Mobile Commerce and Point of Sale Solutions for First Data. “Our partnership with INSIDE Contactless enables us to offer consumers an opportunity to turn just about any personal item, from a mobile phone to an employee ID badge, into a payment device.”
It’s the versatility of the MicroPass platform to support a variety of contactless payment applications and form factors, as well as stickers stickers, that highlights their agreement.
You might also want to consider updating your restaurant POS system to Contactless credit card acceptance in the near future, because their technology is becoming more and more common in the marketplace. And we all know that customer service is all about the speed and fast transaction to a restaurant point of sale terminal, the better the service is the better your customer experience will reflect on the value of your services.
The author of this article is the VP of Customer Relations at POS-For-Restaurants.com with over 20 years experience helping restaurants nationwide increase their efficiency and bottom-line profits using restaurant POS systems.
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.