PRINCETON JUNCTION, N.J.—Consumers want payments to be faster, more secure, and seamless, and many stakeholders across the payments industry are looking to contactless payments as a way to meet these expectations, a new study shows.
The Secure Technology Alliance has released a new white paper that provides recommendations to implement, accept and process contactless payments successfully in the U.S.
“The recommendations and best practices included in this white paper address both the perceived and actual challenges of the payment industry in implementing contactless EMV payment – from POS configuration and deployment, processor integration, card issuer consideration and customer experience in the checkout lane,” said Randy Vanderhoof, executive director of the Secure Technology Alliance. “By addressing these concerns, the industry can acknowledge contactless as the next generation of payment technology, enabling greater checkout speed for merchants, providing a top of wallet advantage for issuers and creating a smoother deployment for processors.”
The white paper covers:
- Contactless acceptance considerations for merchants and processors, including testing and certification requirements and best practices
- Terminal-specific considerations for accepting contactless payments, such as terminal capabilities and enablement, and MSD contactless vs. EMV contactless support
- A discussion of ROI for contactless issuance
- Considerations for mobile payments, including CDCVM support, EMV payment tokenization, and wallet identification
- Recommendations for open loop contactless payments in transit
- Cardholder experience relating to different contactless form factors
- Key topics and best practices for employee training and cardholder education
The white paper was developed by the Secure Technology Alliance Payments Council. Titled “Contactless Payments: Proposed Implementation Recommendations,” the white paper can be downloaded here: https://www.securetechalliance.org/publications-contactless-payments-proposed-implementation-recommendations/