EPOS and Payment Processing Specialist | Haven Systems Haven Systems in an established software development house specialising in Electronic Point of Sale, Payment Processing and Management Information Systems.

Different Types of Mobile Technology used in Payments

Different Types of Mobile Technology used in Payments

More hospitality businesses than ever are relying on some form of mobile payments to ensure they are providing their customers with the best service possible. However, with so many types of mobile payments, we know that it can be a very overwhelming topic. Keep reading or click here to learn more about mobile payment types and to decide which would be the best solution for your business in the future.

Mobile Wallets

Depending on the type of phone you have, you likely have a mobile wallet as one of the features on your device. A mobile wallet stores all of your card information and allows you to pay for a service or product without having your physical card in your hand. The card information is then transmitted to the point of sale device, and your payment will be completed. These devices aren’t just used for monetary payments and can instead also be used for loyalty cards and travel. They are a great option for contactless payments but may require you to add a pin or fingerprint scan to verify the payment. They could also be used for online payments and are a secure option thanks to the encryption process. Great examples of this type of mobile payment are Apple Pay and Google Pay.

Near-Field Communication (NFC)

Near-field communication is usually shortened to NFC and is quite similar to the technology used for Bluetooth. However, it has a shorter range, which is ideal for closed loop cashless payments within the EPOS software. NFC can also be used as a simple method for users to ‘touch and go’ to load a self-order app or digital menu.

QR Codes for Self-Ordering

QR codes can be seen everywhere in the past year, as companies have started to rely on these for a contactless solution for their business. It’s a simple coded pattern, which you can add to your restaurant’s tables or place on posters around your venue. Not all phones are able to detect QR codes automatically, but many users can just use their camera to access the link. You’ll then use a mobile wallet or payment card to complete the process, and it’s a popular option in the hospitality business following the recent pandemic. Many companies are looking to minimise the contact between staff and customers, which is why QR codes are a great solution for many types of businesses.

EPOS Integrated Chip & PIN

A customer may swipe their contactless credit or debit card, or wave their mobile device over the PED (Pin Entry Device) to pay by, for example Apple Pay or Google Pay, but either way it is important that the payment device is fully integrated with the EPOS Software. There are many options when it comes to choosing a Merchant Service Provider, so it is important to do careful analysis of what each provider offers, not only in transaction fees, but also in fixed fees for additional security services.

Talk to us about Merchant Services.