Contactless Payments during Covid-19

The global health crisis caused by the Covid-19 pandemic has caused shoppers’ preferences for payment methods at point of sale (POS) around the world to change dramatically. Many people have chosen to stop using cash because it is considered dangerous in the context we live in today. In view of this, Contactless payments and the use of Smart POS have been positioned as one of the preferred alternatives and are even emerging as the natural successors to the use of cash.

For example, only in the case of Europe, at the end of May 2020, 78% of payments were Contactless. Likewise, POS transactions are expected to grow to 87 billion by 2023 (Ernest and Young, 2019). Moreover, in the case of Qatar, in March 2020, in the market (Banks and Fintech companies) launched its Mobile Payment System, which uses QR code technology to allow consumers to make digital payments through their smartphones, which shows the encouragement of the Qatar government to promote these new payment methods.

Why should we choose these new forms of payment?

Although the context of the pandemic has made many merchants and buyers opt for this payment method on a mandatory basis, it brings many benefits for both parties.

Smart POS are defined as an Android point of sale with applications that support the management of business and that allow a new payment experience. Likewise, it offers a variety of fast and efficient services to different types of businesses, especially small and medium-sized businesses, by integrating all these services in one place using the APIs, which contributes to their development and growth. On the other hand, in the case of consumers, Smart POS allow them to make their payments quickly and with greater security.

Additionally, another entity that can benefit from this new type of technology are the banks themselves, as they will be able to transfer their classic payments proposal to a new digital world of applications and services, Payments and Smart devices. Furthermore, this may allow more merchants to become advanced in the way they serve customers with efficiency and innovation of this new alternative of accepting payments.

In that sense, we see that Smart POS can profoundly benefit 3 different parties: Businesses, Consumers, and Banks.

Premier Smart POS Payment Terminal PF007

Given this, an innovative product that facilitates payment management is Premier PF007, which is a new Smart POS that has different functions in one place as it allows you to make payments via NFC, MSR, IC and QR code.

Moreover, it also has a high speed printer for high efficiency transactions, as well as a professional barcode scanning. Plus, this Smart POS have biometric identification in order to facilitate the identification process.

Furthermore, this product has a built-in camera, a CPU Quad-Core 1.35GHz and a display of 5.5 inch TFT IPS LCD, Dual SIM port with a resolution 720×128, among other characteristics.

This new smart POS represents an alternative to satisfy the current needs of the market (businesses and consumers) to find new safe, efficient and innovative forms of payment. Likewise, it represents an option for banks to continue adapting to the technological changes that appear in recent years and so that they can reach new markets.

For more details, reach out to: info@premier.com.qa