In our everyday lives, almost all people come across different technologies for making card payments whether this is online via an eCommerce shopping cart, a Pin entry terminal at the mall, or even via mobile payment and an eWallet.
Technology is evolving so fast that we may soon see an age where cash becomes obsolete, people are taking to card payments because it is much easier for them than disrupting their day-to-day lives to visit an ATM. You can get the services of the latest portable card machines via https://www.cutpay.co.uk/portable-terminals/.
There have been a few concerns from both business owners and consumers regarding the security of the new payment process mainly because of the simplicity of transactions, however, the card association and the major card issuers have joined forces to promote the security measures that will be put in place.
There is a restriction as to how much you can spend on a contactless transaction and this is no more than 20, other fraud prevention techniques will involve random pin entry requests but generally, you will be able to simply wave your card and a green light will signify if the payment was successful.
Previously small business owners were able to get card terminals for accepting cards by contacting a merchant services provider, this is the best way for merchants to get approved rather than calling a payment processing bank themselves.
Third-party providers can also now help businesses to set up contactless payment machines and because they have experience with acquiring banks they can get lower percentage costs on transactions.
