How will customers pay in the future? The influence of Aduno
Aduno, one of the partners of STARTUPS.CH, has a significant influence on the above question. This blog entry should be able to give some insight.
Since quite some time now customers in restaurants and stores most commonly pay with their credit card. With a constant rise in the purchase of wares and services online, the use of credit cards in these e-commerce transactions has also been continually increasing. A somewhat newer phenomenon that has been observed is the “no contact payment”. This payment occurs without the physical placement of the card in a card reader but rather through a short wave of the card across a reader. When dealing with larger sums of money it is to be expected that one has to enter a PIN code or one has to give a signature. However, amounts under CHF 40.- require neither a Pin code, nor a signature. In such cases the payment process takes just a few seconds.
There are already more than a million of these no contact credit cards in circulation in Switzerland and can by identified by them carrying some of the following symbols:
The Aduno Group has embraced this new evolution in technology by on the one hand providing as a standard no contact compliant payment terminals and on the other hand by offering no contact capable credit cards since a number of years. The Aduno Group is convinced that this technology will only grow more popular among both the seller and the buyer given the convenience of the process. The annoying search for the correct change at the register will be a thing of the past. Also larger distributors have recognized the advantage and will be adapting there sales terminals this year.
A broad net of no contact compliant payment terminals also represents the foundation for the next step in the payment industry: payment via smartphone. Several market participant are currently working day and night to create a viable payment method via smartphone. Initial tests have been positive and now it is simply a question of time before your average Swiss consumer can pay for his or her groceries via mobile phone.
Further information about this topic can be found at www.aduno-gruppe.ch.
