Following news that major retailers such as Boots, Pret A Manger, the Co-op and Waitrose have introduced contactless systems at their stores, Swindon based hardware specialist EPOS Partners have released their first batch of contactless products to the mass retail market.
EPOS Partners, who are based in Westlea in Swindon, now have a contactless chip and pin device available on their website, and are hoping to add more in the future, ensuring that even the smallest of retailers can take advantage of the benefits of contactless payment systems, also known as ‘wave and pay’ or ‘tap and go’.
Interest is clearly continuing to rise, with general retail chain Wilkinsons recently announcing it will be trialling contactless systems in 25 of its retail stores in an attempt to minimise queues and limit waiting time for customers.
Paul Manning, Director of Services at EPOS Partners (www.epospartners.co.uk), believes that whilst early growth has been primarily driven by larger retailers, smaller retail chains and independents will follow once distributors display confidence in the technology by adding products to their portfolios.
“Contactless payments will without a doubt revolutionise the way retailers approach and manage small transactions. Many smaller retailers and independents currently still charge a fee for payments under £5 made by card, which can be an inconvenience if the customer doesn’t have sufficient change on them and often results in lost sales.” says Paul.
With Barclays reporting that the number of contactless payments made through its systems has risen by 150% in the last 12 months and with a predicted further growth in the coming years, Paul fully expects EPOS Partners to expand its portfolio of contactless payment systems as demand continues to rise.
“Contactless payments are also ideal in situations where speed is very important, such as fast food restaurants, petrol stations and local convenience stores. Customers will enjoy the convenience and the fast service and retailers will see the rise in profits as efficiency is improved. When it comes to contactless payments, the pros are plenty and the cons are few,” adds Paul.