Contactless payments continue to experience exponential growth, with the desires of the user and the way they engage with the transactional experiencing exponential evolution throughout the pandemic.
Brad Hyett, CEO of Phos, the fintech behind the first-ever software-only Point of Sale (SoftPoS), emphasised to Payment Expert why he believes the growth of contactless will only heighten as we navigate beyond the pandemic.
He stated: “You have a constant consumer hunger for improvements, whether it is checkout experience, reduced queuing times or the way that they are able to interact and experientially pay for something, even if that’s down to walking out of the store without ever removing their wallet from their pocket, which we have now seen in a couple of places.
“The user experience of the contactless flow is a very straightforward one, being able to take out your phone or your card and just tap and pay and go, is significantly improved on pin. It’s significantly improved on putting your card into the device of someone else, specifically when you are not familiar with the brand, the idea of holding onto what is yours is something people feel comfortable with.”