Introducing A New Payment Method That Could Make Credit Cards Obsolete
Inside Contactless, a leading provider of advanced, open-standard contactless chip technologies, and First Data, a global leader in electronic commerce and payment processing services, today announced they have signed a three-year agreement to develop contactless payment stickers, which First Data will market as GO-Tag products. On the agreement, INSIDE is the one to supply the MicroPass payment sticker prelams only to First Data-qualified card manufacturers for production.
The agreement leverages the core technology from INSIDE Contactless and the issuing and transaction processing power of First Data. GO-Tag products will be marketed by First Data to financial institutions, major merchants in the U.S., and all other distribution channels in a variety of form factors.
According to the general manager of Mobile Commerce and Point of Sale Solutions for First Data, the GO-Tag Solution represents an important measure in the evolution from today’s plastic cards and fobs, offering a bridge to the future of mobile payments. And that the partnership with INSIDE Contactless gives them the ability to offer consumers a great opportunity opportunity to turn just about any personal item, from a mobile phone to an employee ID badge, into a handy payment device.
“This agreement highlights the versatility of our MicroPass platform to support a variety of contactless payment applications and form factors, including stickers,” says Charles Walton, executive vice president of payments for INSIDE Contactless.
Since Contactless credit card technology becomes more common in the marketplace, it can be a good idea to update your restaurant POS system with them in the near future. And we all know that customer service is all about the speed and fast transaction to a restaurant point of sale terminal, the better the service is the better your customer experience will reflect on the value of your services.