Canadian Retailer - Store 2014 - 78

RETAIL QUICK TIPS (ADVERTORIAL)

DID YOU KNOW THAT YOU CAN IMPROVE
THE SPEED OF CHECKOUT WHILE REDUCING
YOUR CHARGEBACK EXPOSURE BY ADOPTING
CONTACTLESS ACCEPTANCE AT POS?
BROUGHT TO YOU BY MASTERCARD
FEW aspects of retail are as important as the sale. And as the shopping habits of today's consumer continue to
change and evolve, so too do their preferred methods of payment. Contactless payment technologies provide the
consumer with greater choice and convenience with respect to the way they pay for their purchases, and enabling
the technology in-store can help improve retail sales at the checkout.
CONTACTLESS PAYMENT TECHNOLOGY
IMPROVES THE SPEED OF THROUGHPUT AND
HELPS ELIMINATE CONGESTION AT THE POS

Studies have determined that contactless payments offer a speedier checkout of up to 15 to 20
per cent faster. There is no delay caused by the
need for the store associate to count out change
and consumers are not required to insert their
card and input a PIN; they simply 'Tap & Go'.
CONTACTLESS PAYMENTS LEAD TO NEW
PAYMENT TECHNOLOGY THAT CANADIAN
CONSUMERS ARE DEMANDING

As of May 31, 2014, there are over 72,000
merchant acceptance locations that accept
contactless payments in Canada. These retailers now have the foundation to support future
innovative technology that will dramatically
improve the customer experience at checkout. Studies show that Gen X consumers
(30-49) spend the most on discretionary
items (averaging spend of $323 per month)
and are the most likely to adopt mobile payments technology (47%). New features such
as rewards distribution and coupon redemption, along with the payment of goods during
a single tap of their smartphone, will provide
a differentiated solution to help attract new
customers and enhance consumer loyalty in
this important consumer demographic.

CONTACTLESS PAYMENTS INCREASES THE
AVERAGE TRANSACTION SIZE WHILE OFFERING
SIGNIFICANT CHARGEBACK PROTECTION

Merchants have seen the benefit of an increase in
average ticket size as consumers are not restricted
to cash on hand for their purchases. Credit card
acceptance provides an increase in spontaneous
spending, and for greater convenience we have increased the PayPass acceptance amount from $50
to $100. In addition to the security features within
a PayPass card that offer tremendous fraud protection, this will further ensure a faster checkout
experience with a significantly reduced merchant
chargeback risk on transactions under $100.
ACCEPTING CONTACTLESS PAYMENTS DEMONSTRATES THAT YOU ARE SUPPORTING YOUR CUSTOMER'S PREFERRED METHOD OF PAYMENT

Most people around the world (54%) use plastic as
their preferred payment method for daily spending. In Canada, over 33 Million PayPass contactless MasterCard cards have been issued. In fact,
all consumer MasterCard cards issued in Canada
are PayPass contactless enabled. Since 2007, there
has been a steady rise in consumer preference to
pay by contactless. In Canada, more than 17 per
cent of all face-to-face MasterCard transactions
are completed using PayPass. That number is rising as a result of the change to a $100 chargeback
protection transaction limit.

For more information about MasterCard's PayPass and the benefits of enabling contactless payments in your store,
visit www.mastercard.ca/paypass.html, or call 1-800-622-7747 to speak to a representative.

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Canadian Retailer - Store 2014

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