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Contactless Payments


Contactless payments is changing the way that consumers are paying for products and services. Customers demand and expect speed and convenience and that is why contactless payments that were always considered a future product but is now very much in the present. In fact, every major issuing bank has either in the past year or within the next year issued their credit cards with a smart chip in addition to the usual magnetic stripe. This includes Visa, MasterCard, American Express and Discover. At the same time tens of thousands of business locations have already installed the contactless payment readers including McDonalds, Regal Theaters, 7-Eleven, CVS, several major sports stadiums, and the New York Subway system. These cards are branded under different names including Visa® payWave™, MasterCard® PayPass™, Chase blink®, American Express® ExpressPay™, and American Express Blue™. Within the next few months approximately 20 million cardholders will be carrying one of these new cards and Visa has predicted that there will be over 400 million contactless cards in circulation by 2009.


Here is a picture of what a sample Contactless Payments dual magnetic-stripe and smart card chipped card looks like:

How Contactless Payments Works

Contactless payment cards use the latest technology to send card data via radio frequency to a terminal reader. A cardholder simply holds or waves their card in front of the secure reader, waits of a light to come on and a beep to signal that the purchase is complete. The contactless payments device is attached through a cable to a standalone terminal or a point of sale systems. Instantaneously the transaction data is routed to the processing network just like magnetic stripe read cards you are probably used to. It should also be noted that unlike PayPass which you may have used on highways and toll booths, these cards use very short radio waves (Radio Frequency Identification or RFID) so inadvertent sales by just walking by are not possible.

Why Consumers Like Contactless Cards

In addition to speeding up the transaction, customers like the idea that the card never leaves their hands. Visa, MasterCard, and American Express have all enacted rules that dispense with the requirement for a signature for most purchases under $25.00, making the transaction even faster. Many issuers are also providing consumers with key fob cards freeing them from having to search their wallet or pocketbook. In addition, the major cell phone manufacturers are now including a special chip in their new phones so that consumers can download their credit card data into the phone and then simply wave their phone in front of the card reader. No more fumbling for coins or having to open their pocketbook in a line of strangers. There is also zero liability for unauthorized purchases.

Why Merchants Like Contactless Cards

Merchants in time sensitive businesses especially like speedier transaction times resulting in moving lines. Studies and tests have shown that contactless payments are significantly faster than traditional mag-stripe cards (53% faster), cash (63% faster), and checks (an eternity). Consumers tend to spend more on purchases with contactless cards versus cash purchases at the same location. It will attract new customers who have received the card and want to try it out and then keep them coming back because of its ease of use. In addition, it sets you apart from merchants who have not embraced this newer technology and lets your customers know that you are aware of the latest technology.


Contactless Devices

Credit Card Processing Services sells the two most popular contactless payment devices in the marketplace. Each is designed to be attractive, functional, and reliable. Their small footprint is ideal for limited space counter environments such as quick serve restaurants (QSR), convenience stores, movie theaters, ticket booths, snack and souvenir stands, and regular retail stores.


ViVOpay 3000

ViVOpay 4000

The retail price for either unit is $199.00.

Terminal Compatibility

The ViVOpay contactless payment devices that Credit Card Processing Services deploys is compatible with the following terminals:

Verifone Omni 3740
Model 3000 or 4000
Verifone Omni 3750
Model 3000
Nurit 8320
Model 3000
Hypercom T7Plus (1 MB Only) Version SPOS 09
Model 3000
Hypercom T4100
Model 4000

If you already own a compatible terminal then CCPS will be happy to reprogram it at no charge. If you need a compatible terminal then please ask us about our outstanding pricing.

Merchant Account Pricing

MasterCard Check / Debit Cards (Non PIN-Based)
1.49 % + .25 per Transaction
MasterCard Credit Card Rate (Qualified Swiped)
1.69 % + .20 per Transaction
MasterCard Credit Card Rate (Mid-Qualified – Rewards Cards)
2.61 % + .20 per Transaction
MasterCard Credit Card Rate (Non-Qualified – Business Cards)
2.96 % + .20 per Transaction
Visa Check / Signature Debit Cards (Non PIN-Based)
1.49 % + .30 per Transaction
Visa Credit Card Rate (Qualified Swiped)
1.69 % + .20 per Transaction
Visa Credit Card Rate (Mid-Qualified – Rewards Cards)
2.61 % + .20 per Transaction
Visa Credit Card Rate (Non-Qualified – Business Cards)
2.96 % + .20 per Transaction
Debit Cards (With PIN)
15 Cents plus Network Fee
Monthly Minimum (Equates to Approx. $1200 in Sales)
$25.00
Monthly Service Fee
$7.50
American Express (Inquire About Rate for Your Business Type)
15 Cents per Transaction
Discover Card (Almost the Same Rates as MasterCard & Visa)
15 Cents per Transaction
Daily Batch Fee
5 Cents per Batch
24/7 Toll-Free Tech Support
Free
Application Fee
None
Setup Fee
None
Annual Fee
None
Hypercom Credit Card Terminal
Free Placement
External PIN-Pad for Debit Cards (Optional)
$5.00 per Month
Equipment Shipping
Free
Terminal Training
Included
Above Pricing Accurate as of:
April 2010
  • Special Pricing available for high volume merchants (Over $1 million per month)

Now that you have read about our Contactless Payments program we invite you to start the application process by completing the Merchant Application Worksheet from the Application Apply Online link. Should you have any questions please feel free to either call Kevin at 215-489-7878 or send an email to Kevin@ccps.biz.


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