Did you know during this year we are expected to make seven million contactless transactions per day? Contactless, or tap and go payments have become a very big deal in today’s payment landscape. As you are probably aware’ tap and go’ gives debit, credit or prepaid cards the function to allow you to make quick and easy payments without having to enter a PIN number. You simply place a contactless card over a card reader and there you have it, you’ve made your payment…’ tap and go’.
The ease of ‘tap and go’ means it’s quickly become part of peoples everyday lives. Research from Barclaycard shows that 70% of consumers prefer this payment method and would also like to see contactless functionality added to other things such as bracelets, rings and even sunglasses! Visa have also reported that the number of "tap and go" card payments across Europe has nearly tripled compared with a year earlier and it’s us guys in the UK, Poland and Spain that use ‘tap and go’ payments the most.
So what’s so good about ‘tap and go’? Well, there are many benefits, there’s no need to have the correct change when purchasing something, there’s no need to mess about entering your PIN number into a terminal and wasting time, tap and go payments can improve queuing times significantly, they can also reduce the need to find a cash machine or carry cash and it’s more convenient than other type of payment out there.
Did you know that MonitorIT’s transaction management solution uses ‘tap and go’ technology, from buying a coffee in the canteen to a chocolate bar from a vending machine to a load of washing in the uni’s laundry to even paying for print and copy and all by simply using the students ID card with a 'tap and go'. All on campus spending is managed through one platform and your students can manage all balances online, by mobile web app or at a self-service kiosk. Not only that, the students ID card is not a prepaid card so if lost or stolen the funds are safe, a benefit that doesn’t come with debit, credit or prepaid contactless cards.
The solution can be extended beyond payments to include other services around campus such as access control, attendance and engagement monitoring, transport and payment of fees and memberships. There is no need for students to carry any other additional cards.
Whether or not you’re a fan of contactless, ‘tap and go’ is here and is here to stay. Contactless is the new king in the world of payments so isn’t it time to get on board with MonitoIT’s transaction management solution for your campus.
If you want to see how we can take you into the tap and go future with our cashless campus solution read our white paper here
or contact us on 01494 565 066 or email us at email@example.com