First Data announces new technology to help small businesses adapt to “PIN-only” and drive growth
- Category: Corporate
MELBOURNE – JUNE 19, 2014 – First Data Corporation, the global leader in payment technology and services solutions, today announced new payments technologies in Australia that will help small and medium enterprises (SMEs) – especially in the travel, entertainment and hospitality space – adapt to “PIN-only” credit card transactions.
From 1 August this year, signatures will be phased out by Visa and MasterCard and all transactions will be PIN-based, meaning customers can no longer sign their credit card bill at the table. While many are fearful the change will disrupt small business, First Data’s new payments solution for the sector – which includes new mobile EFTPOS terminals, an integrated Pay@Table solution and other customisable applications – will increase customer convenience, service and turn over thus helping SMEs drive revenue growth.
First Data Australia’s Managing Director, John Tait, said these products were unique in the market.
“Our product is the only one in the market that delivers this level of service by facilitating split billing, prompting customers to tip and letting them do so on a split bill. It encourages tipping and streamlines the payment process for consumers – all at the table. The app is one small part of our integrated payments solutions for merchants that will revolutionise the customer experience, give people more choice in how and when they pay, and give merchants better insights into their business.”
According to CPA Australia’s fifth annual Asia Pacific Small Business Survey, one of the biggest priorities for small businesses is customer retention – along with new customer marketing and revenue growth.
“The transition to PIN-only transactions could be time-consuming for businesses – especially if there are limited point-of-sale terminals available. It’s likely that congestion can occur at the counter when multiple transactions need to happen at once, and people will be less likely to tip if slowed down and not prompted. The mobile terminal eliminates these potential problems by being mobile within the store and encouraging customers to reward good service,” said Mr. Tait.
“Customers want convenience and are more likely to be repeat visitors if their initial experiences are positive and hassle free. Our solutions help merchants deliver that to win regular, repeat customers.”
First Data’s new mobile EFTPOS terminals and the integrated Pay@Table solution are available through First Data’s subsidiary business BWA Merchant Services. More information on how to access and incorporate these solutions and products is available at their website – http://www.bwams.com.au/hospitality – or by calling 1 800 655 204.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive client revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, cheque or mobile phone, online or in store, First Data takes every opportunity to go beyond the transaction. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.
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