Since the onset of contactless credit and debit cards in 2013, whereby Canadians take the pleasure in paying for their goods without entering their personal PIN, they can now simply tap their card against the POS terminal using NFC (Near Field Communications) technology and experience instant gratification. In today’s world, people are busier than ever and are always on-the-go. Consumers and merchants alike need a fast payment interface that can keep up! MONEXgroup offers the ideal solution with our PCI certified Contactless Only payments technology that is perfectly suited for unattended vending machines, enabling self-serve transactions that are as quick as a card tap! MONEXgroup is the first payment processor to successfully introduce a Contactless Only system that is certified by the major card brands, supporting Visa, MasterCard, Interac and Apple Pay.
The History of Contactless Only Payments in Canada
According to Visa.com, March 27, 2013 was the first day that Near Field Communication (NFC) mobile debit transactions took place in Canada. McDonald’s restaurants tested the efficiency of having customers hold out their phones in front of an Interac Flash POS terminal to process payments more efficiently. Participants quickly realized the benefit as their funds were deducted directly from their bank account within seconds and users were impressed by the convenience plus security. The rest is an emerging history for contactless only payments in the Canadian POS industry.
The Future: Contactless Only Payments
A report entitled, Canadian Payments Forecast – 2016, estimated that the domestic value of contactless only payments transactions increased by $30 billion in 2015, growing by leaps and bounds.
In fact, Christie Christelis, the President of Technology Strategies International Inc., stated that: “The contactless market has evolved to the point where consumers are frustrated if the merchant doesn’t accept contactless payments.” Furthermore, “A number of merchants have found it necessary to place signs on their POS terminals apologizing for the inability to accept contactless payments.”
Contactless Only payments are the next stage of the evolution as other technology options are less user-friendly and will therefore become obsolete. Contactless technology has grown so rapidly that consumers expect contactless POS terminals to be universal, particularly at grocery stores and supermarkets where time is of-the-essence and every second counts. Some customers will even go the extreme measure of switching banks in order to utilize and enjoy contactless payments. Christelis continued “Only about one in six people who own contactless payment options do not use them, and people are using their contactless payment cards more and more frequently.”
MONEXgroup and Contactless Only Payments
MONEXgroup is the one and only payment processing company that integrates unattended contactless only payments technology into any Self-Serve Kiosk or vending machine with full certification in Canada for Visa, MasterCard & Debit Interac Flash. A Self-Serve Kiosk can be defined as any machine that allows customers to purchase items with no human interaction – a snack or pop machine is a typical example. MONEXgroup’s contactless only module can be integrated into virtually any Kiosk system. The interface is not only simple but it is also practically indestructible; operating up to -20 to +60 degrees with a fully weatherproof enclosure so no water or dirt infiltration is possible.
MONEXgroup’s contactless only payments technology is already proven in the market with successful implementation at residential Laundromats plus Gas Station air pumps and car vacuum machines nationwide. The revolutionary solution is also ideal for Drive-Through, Vending Machines, Ticketing stations, Gaming, and Retail…The possibilities are endless! We can customize a contactless only payments system to meet our merchants’ unique needs with our ready solution for kiosk integration. Moreover, our PCI Certified contactless only payments solution leapfrogs cumbersome maintenance requirements for vending machine operators (such as Key Injection and system repairs) while being compliant with the latest payment industry security standards. The result is: faster transaction times, dramatically lower maintenance costs by up to 95%, and a spike in transaction volume with satisfied customers.
Advantages of Contactless Only Payments
The contactless only payments system bypasses the traditional cumbersome burdens commonly experienced by Vending merchants with the following circumventions:
- No Pin required.
- No swipe or insert necessary.
- No Coins or Bills.
- No more need to worry about Key Injection and MAC’ing
Additionally, vending operators who implement this technology will not only save in the long-run on maintenance costs, but they will also save significantly upfront on Acquisition Cost by eliminating the need for purchasing a pin pad or swiper. Having fewer components results in a comprehensive streamlined solution that’s both efficient and economical.
Currently, our groundbreaking contactless only payments solution for Air Pumps and Vacuum Cleaners is being deployed at all gas stations in all provinces and territories. In fact, we service almost 100% of this market. Gone are the days of digging for the right change; customers are excited with the results from our Air pump partner, as they now just tap their card or mobile wallet and pump away.
MONEXgroup’s contactless only payments Kiosk technology is ideal for fast food restaurants and cafes looking to improve their Drive-Through speed of service and customer experience. Our module can be integrated into food vending kiosks, facilitating instant payments and speeding up the queue. Once your food items are selected on the screen, payment occurs instantly through the contactless module… saving everyone’s time and creating opportunity for significantly greater sales transaction volume.
Self-Service Parking Pay Application
Parking pay stations would benefit tremendously with the convenience of MONEXgroup’s contactless only payments solution. Our contactless reader can be integrated to offer a new standard of transaction speed plus durability with its resilient weatherproof design.
Vending Machines Application
Vending machines can now satisfy cravings faster with the inclusion of MONEXgroup’s contactless only payment component. Grabbing a cup of coffee, bottle of pop or a bag of chips has never been so easy for customers and hands-free for management of payment collection.
What are the Benefits of Partnering with MONEXgroup for your Vending?
Since the recent arrival of Contactless Credit Cards technology and widespread adoption in the Canadian market, MONEXgroup has been at the forefront of this trend and we have been consistently innovating our POS terminals to support contactless trends and remain a market leader. We are proud to have launched and successfully deployed North America’s first Contact Only payments system.
MONEXgroup is the one and only payment processing company in Canada that integrates unattended Contactless Only payment technology into any Self-Serve Kiosk or vending machine with PCI certification for Visa payWave, MasterCard Tap & Go, Interac Flash and Mobile Payments such as Apple Pay and Android Pay (coming soon). So, what are you waiting for? Embrace the future and contact MONEXgroup today to discuss your integration requirements for a self-serve vending solution that will help leapfrog existing technology and accelerate your business!
When partnering with the number one Canadian merchant services in Canada; MONEXgroup payment processing will increase your efficiency and quality of service and lower the related costs. Request a Cost Comparison Analysis today.
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