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Contactless Payment | The Future of Transaction

Feb. 17, 2020

Global contactless transaction values will reach €5.5 trillion in 2024, up from €1.8 trillion in 2020, according to the new data from Juniper Research forecasts that global. The research pointed out that the rollout of contactless cards and improvements in contactless POS devices are the key driver of global contactless transactions increase.

Contactless Payment | The Future of Transaction

As technology becomes more and more advanced, contactless payment has gradually replaced the cash and deeply influenced people's payment habits. Contactless payment is a secure method for purchasing with a credit card, debit card, smart card or another device, including smartphones and other mobile devices that use radio-frequency identification (RFID) or near field communication (NFC).

Contactless Payment | The Future of Transaction

In addition to normal NFC payment methods, QR code payment and face payment could be seen as the latest contactless payment methods. Some merchants will also take advantage of contactless payment to enhance customers' loyalty and trust. Less waiting time equal to better customer satisfaction, which is good for restaurants and brick-and-mortar stores that have a longer customer wait time.

Telpo's smart POS combines multiple contactless payment methods. For example, the credit card terminal TPS900 has passed the certification of EMV, PCI, VISA Pay wave, and Master PayPass. The newest POS TPS320 continues the ruggedness and performance of the Telpo TPS300 and has been upgraded in appearance and core. Therefore, in the retail collection, compatibility is high, battery life is strong, and mobile payments are supported.

Contactless Payment | The Future of Transaction

The newest POS TPS320

The combination of contactless payment and self-service terminals in retail stores has brought considerable profit growth to the stores. Burger King has enhanced the customer capacity and increased profits by three times after it cooperated with Telpo and install Telpo self-order kiosk, according to the operation data. The success is owed to contactless payment self-order kiosk can efficiently solve customer most headache problem- queuing.

And Telpo self-order kiosk is unique in that its big screen and face recognition function. Combining with Alipay software—face pay, a complete catering solution is made. Customers can enjoy a more comfortable and pleasant dining experience.

Contactless Payment | The Future of Transaction

Burger King has installed Telpo self-order kiosk.

Contactless payments allow traders and customers to reduce costs in the payment process. It is upgrading traditional cash register equipment and also offers more options for payment. As a smart terminal and solution provider, Telpo will consistently upgrade its scientific and technical ability and continue to provide customized service for different client groups. 

Tag: contactless payment, NFC, contactless transactions, POS device, self-order kiosk, face payment, Burger King, TPS320, TPS900

Brief Introduction: Telpo is a professional smart payment partner who focuses on the ODM service 20 years. It mainly provides the EFT-POS, cash registers, biometric devices, face recognition machines, self-service kiosks, and bus validators. Telpo has served for more than 1000 customers abroad, including government, banks, Telecom operators, police stations, Retail shops, and offices. Telpo adheres to R&D and innovation, aiming to provide more intelligent hardware for global partners.

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