Increasingly, there’s more room and need for contactless payments. This article will tell you about this type of payments and its growing popularity. Also, you’ll discover the CBD merchant account you need for your online business.
Contactless Payments &CBD Merchant Account
According to marketers, mobile payment transactions are projected to reach $161.41 billion in 2021.In fact, mobile payments technology gained true popularity in 2014. This was the year when Apple launched its Apple Pay.
The past few years witnessed the rise of mobile wallets in the market. Now, people have more than one mobile payment option. These include Samsung Pay, Android Pay, Microsoft Wallet, and more.In fact, contactless payment systems have revolutionized the world of credit card payments.
According to Visa, contactless now represents 50% of in-person credit card sales outside the U.S. MasterCard reports 25%globally. These numbers are growing year over year. As Visa says, billions of people are looking for being able to pay with their cards just anywhere they make purchases.
With all that in mind, take the time to shop around and find a true payment processing expert that can help you with the lasted, most secure and cheapest merchant services in the industry. With a reliable credit card processing company, you won’t have difficulty with any payment processing service, including a CBD merchant account.
Contactless Payments on the Rise
Contactless payments provide ease of use and greater safety. The credit cards you use come with encryption and are hidden behind phones’ lock screen. Thus, it’s almost impossible to get acopy of your credit card number.
As an active Near Field Communication (NFC)device, your smartphone can transfer and receive information over NFC. The latter is a wireless communication technology based on standards, which enables devices justa few centimeters apart to exchange data.
To wrap up, a contactless technology enables you to easily shop: all you need is to place or hover your card or phone near a payment terminal (credit card machine). So, you no longer need to swipe your credit card or insert its chip for payment processing. Contactless payments are gaining traction rapidly.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country that offers the safest and cheapest CBD merchant account you need. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.