Contactless payment is now compulsory on all card machines, with British retailers, big and small, forced to offer the service.
Install or fall
Visa and MasterCard are driving the scheme as part of their attempts to create a cashless society, and according to Mastercard;-
"from the beginning of 2016 any new payment terminal that gets deployed must accept contactless, and every single terminal must accept it by 2020."
In essence this means that any terminals without the capability needed to be replaced by 1 January 2020. So, if you have a non-contactless machine, call us today and we can replace it for you.
No more minimum charge?
As it stands many independent retailers and corner shops have a £5 minimum spend policy, imposed to cover the charges placed by banks for processing the payments.
Some believe this spells the end of these minimum charges, suggesting that “The compulsory introduction of tap and go payments in 2020 will discourage retailers from imposing a £5 minimum spend.”
“Pubs and convenience stores especially are less likely to impose a minimum spend on contactless payments because it helps them cut queuing time and make more sales."
As of 13 January 2018, retailers are now banned from charging extra for card payments.