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Top 4 Ways to Accept Payments On the Go in 2022

Learn how to take payments on the go, reduce in-store queues and speed up your checkouts.

Digital Wallet

Today’s consumers live on the go. Right from the way they shop to how they move, eat, and pay. No one likes slow checkouts or waiting in long queues anymore. Instant gratification and ample choice is what everyone seeks. Savvy business owners are aware of this. And they understand the need to offer customers quick, safe, and easy ways to pay – in-store as well as online. They know that if a buyer does not get the option to pay using a method they want, they’ll quickly abandon their purchase.
More shoppers today are paying through their mobile devices (smartphones, Apple watches, tablets). Whether it be NFC payments or QR codes, instant payments are in high demand. Adding quick and easy, touch-free payment options helps you to be seen as a business that cares for your customers’ safety and convenience. Two in three Europeans say they prefer paying through contactless means.

Top 4 Ways to Accept Payments On the Go

1. Digital Wallets – they are quick, secure, and zero-touch. They use multi-factor authentication and tokenization to keep payment data safe. Adoption is fairly widespread across Europe and major players like Apple Pay and PayPal lead in many markets. There are several bank-led wallets for domestic markets that are popular. These include iDEAL in the Netherlands, Vipps in Norway, and Swish in Sweden. Major non-bank-led wallets include Neteller, Skrill, Amazon Pay, and Vodafone Wallet. Customers can use digital wallets to make quick, contactless payments in-store. Leading ones such as Apple Pay, Google Pay, or Samsung Pay use NFC technology to enable touch-free payments at merchant POS terminals and kiosks. Customers can also pay with these e-wallets by scanning the merchant QR code at checkout.

2. Tap to Pay – it is a quick and hassle-free way to accept payments in-store. It uses NFC and RFID technology to make payments wirelessly. Tap to Pay uses biometrics and tokenization to secure payments. Contactless cards are the most-used method. They are similar to regular cards but come with an EMV chip and a smart chip embedded in the card. When a customer taps or waves their card close to the contactless POS terminal, the payment is authorized. They don’t have to share any other details, such as their name, account number, PIN, CVV, or billing address. Another form – Tap on Phone – allows merchants to accept payments instantly using their Android or Apple phone. The merchant simply downloads the app from their acquirer onto their smartphone, which then functions as an NFC-enabled POS terminal. They can straight away start accepting payments from shoppers using just their phone, without any extra hardware or card readers. Tap to Pay is growing across Europe and major players like Apple and Visa have announced rollouts.

3. QR Codes – they are easy and quick to set up. They offer zero-touch, fuss-free payments – no more typing card details or waiting in line, just scan and go. These can be used anytime, anywhere – in-store or online. QR code payments are massive in Asia but are now becoming popular in Europe and the UK. QR codes are easier to set up and cost much lesser than expensive (and clunky) POS card readers. They can be easily integrated into your payment ecosystem— both in-store as well as online. Customers can pay by scanning the merchant QR code at stores or on the merchant’s website. Alternately, customers can download QR codes onto their own devices, which a merchant scans when the customer pays at the store or on their web shop.

4. Pay-by-link – they allow customers to pay easily and securely via a link that is sent through SMS, WhatsApp, or email. When a shopper clicks on the link, they are redirected to a checkout page that is customized to the merchant’s brand image, thus improving trust and conversion. It can be easily deployed – no complex integration or coding is necessary. Pay-by-link is a simple and secure way to accept payments, both small and large. They are convenient for smaller businesses that do not have a large-scale or complex IT setup. A payment link also acts as a digital invoice and thus helps in bookkeeping as well.

How can Novalnet Help?

We can help you set up your payments quickly and easily, wherever you are in Europe. Our technology helps businesses like yours to accept payments globally in 125+ currencies in 150+ automated country-specific payment methods. Many of Europe’s leading brands trust us to handle their payments. Set up your payments within minutes with minimal coding using our instant payment plug-ins. Or use our AI-based risk management solutions and advanced analytics to design the best payment experiences for your customers, all in a fully secure environment.
Reach out to us to know more about how we can help you up your payments game and grow your business.

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