How Contactless Can Help Grow Your Business
Infographic: Find out how contactless can help you grow your business
Data and Statistics from the Merchant Contactless study and MasterCard New Zealand Annual Survey comparing contactless and non-contactless merchants on:
- Customer acquisition
- Customer retention
Why accept contactless?
Contactless transactions are faster, more secure, and can help you grow your business by contributing to sales growth and customer acquisition and retention.
New Zealand consumers are some of the highest users of contactless globally - with 73% of New Zealanders using contactless technology and research shows that 80% of New Zealanders are open to using mobile and wearable technologies for their everyday payments. Accepting contactless payments future-proofs your business against these emerging payment technologies.
With contactless transactions you and your customers benefit from:
• Better customer experiences due to shorter queues, less time spent paying, and more time engaging with customers
• Increased sales. Merchants that have enabled contactless have enjoyed more than double the sales growth (10.1%) than those that haven’t (4.6%).
• Customer growth. Growth in customer numbers (8.3%) was over double that experienced by non-contactless merchants (3.5%).
• Increased customer retention. Contactless merchants enjoyed triple the growth (1.7%) in the percentage of returning customers than non-contactless merchants (0.5%)
How much does it cost?
We won't charge you any additional fees to enable contactless on your terminal. However, each contactless transaction incurs a merchant service fee like credit card transactions do. You can't add a surcharge to a contactless transaction, so your business will need to absorb this cost. An increase in average spend, customer acquisition and retention can help balance the additional cost of acceptance and help fuel long-term growth.
Is contactless right for your business?
If you answer yes to any of the below questions, contactless could be right for your business:
- My business has peak times where queues can start to form
- I need a solution to speed up payments so I can serve more customers, faster
- I already accept credit cards
- A large portion of my customers already pay with their credit card
- I’m happy to invest in a faster, more convenient payment solution
- I want to offer a secure payment solution to my customers
How do I set up contactless?
Already an Eftpos NZ customer? Your EFTPOS terminal is ready to accept contactless payments from cards and devices. Simply call the Merchant Services team at your bank and ask them about contactless payments.
The Merchant Contactless Study, by Paymark and independent insights agency TRA
Mastercard New Zealand Annual Survey 2017