Member Article

Making secure payments is now easier with Next-Gen technologies

With the evolution of internet, there are myriad things that have changed and same is the case with the payment methods. Can you think of the time when you made payments for your groceries with a chequebook? Certainly if that is the case then you must know that the payment methods have constantly evolved. Customers keep seeking faster, safer and easier ways to carry transactions. In fact, with the innovations today in payment methods, there is hardly any requirement of the cash registers. The Point-of-Sale changes constantly with customers expecting shorter wait times as while going for shop. Quite knowing the painful process of picking up groceries and filling up at the pumps, the smartest companies design smooth experiences for the customers.

QSR Applications

Quick service restaurants come around as just perfect for the introduction of NFC (Near field communication) and HCE (Host card emulation) technologies. Needless to say, long lineups stay common as topmost companies look for ways to reduce waiting times though there is no sacrifice on the quality of service or food. Made-to-order and customized meals are quite prominent and this way preparation times enhances. At the same time transaction times are reduced with NFC as it compensates for who are involved along with the made-to-order cooking methods. This also allows more automated ordering with customers ordering through computer terminal and pay sans human involvement.

Till now mobile technology did have limited access in North America’s casual dining scene with most restaurants looking it as a way for clientele empowerment. At the end of the meal, it’s quite annoying to wait for debit and credit terminals and that is being minimized with restaurants offering more of enjoyable experiences.

Tokenization

Security is an aspect where mobile app developers constantly face challenges with some believing that tokenization can prove to be extremely helpful in creating secure transactions. After all, as you store private account numbers on devices, it’s a risky affair but this is what allows card-free payments. As it comes to Tokenization, here the private account number is taken and then translated out of plain text, this allows an NFC terminal make deliver of the token to a cloud, with it translating it back to a number in plain text.

Touchless Payments

It’s certainly a great experience to make payments with the need of your wallet or your phone. App developers Clearbridge Mobile came up with contactless payments at one of Brazil’s largest gas station chains. Here the customers were enabled to carry out their transactions sans any need to leave their cars. This chain having around five thousand locations was dealing with lost revenue owing to credit card fraud that occurred, as well as there was an increase in occasions where customers were robbed while taking out their wallets.

It was at that time that Clearbridge came up with an app combining PayPal with Optical Character Recognition that created an easy PoS experience as well as it protected the company’s revenues and its patrons. Geo-location also was introduced by the mobile developers for security purpose and it required GPS confirmation regarding user’s presence at the gas station.

This way it is quite evident that Internet of Things is bringing great changes in terms of how consumers expect as it came to interaction with retailers. Touchless and NFC transactions are prominent all around as the new standard and it’s vital to work with app developers looking into future security standards.

At Octal Info Solution, we offer amazing web and mobile application development solutions to the customers spread all around the world at cost-effective prices.

This was posted in Bdaily's Members' News section by Octal Info Solution Limited .