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Is Contactless the new ‘must-have’ trend that we didn’t know we needed?

22 March 2021, Why Vianet

We are living in a digital world with contactless technologies trending at the forefront. From light switches to car keys, refrigerators to vending machines, devices little and large all over the world are utilising digital innovations and contactless capabilities. Day by day humans are becoming more dependent on digital technology and the internet of things.

We are living in the digital revolution

According to Ofcom, people in the UK now check their smartphones, on average, every 12 minutes of the waking day. Excluding phones and computers, an average person comes in to contact with a device running some description of software more than 30 times a day – fobbing into a building, taking the lift rather than climbing the stairs, driving a car or buying snacks from a vending machine are just some of the many examples of these interactions.

It’s 2021, nearly everywhere in the world has the function of being able to pay with chip and pin cards and if you’re not buying something over the counter, you’re heading to the online checkout making your next digital payment on your computer or phone. It’s safe to say that digitalisation has had a big improvement on our lives. We are able to have continuous communication with our family, friends, and workplace, from all over the world – and of course payments are no exception. Payment systems have embraced the digitalisation era with open arms by leading us into a cashless society.

Is contactless the new trend that we didn’t know we needed?

When convenience is a key part of our nature, how can you not become a fan of contactless payment, with easy ways to pay including through wearables and accessories. Especially in fast-paced professional environments, where time is the most valuable thing we own, a quick and simple way to pay is hugely beneficial to consumers and suppliers a like.

We have all experienced the ‘stomach drop’ when you realise that you have left your bank card or wallet at home – racing thoughts of “how am I going to pay for a cup of coffee?” “what am I going to do about lunch?” “I can’t make it for drinks after work, I don’t have my card”. These concerns are a thing of the past thanks to advancing payment technology. Such convenience of paying your bill, popping to the shop or using your office vending machine with something unassuming like your phone, your watch, some jewellery or a keyring is no longer talk of the future; instead, it is a reality that some of us are already living.

Payment Accessories Evolving as we advance into a Cashless Society

As time progresses and we dive further into a cashless society it appears that contactless products are available for everyone and cater to many interests.

Contactless cards and paying for items on your phone is now the new normal due to COVID-19, but as we step into this new era, are we saying goodbye to those days earlier than expected? We are looking at so many convenient possibilities for contactless payment.

  • In 2018, ‘Costa’ launched the UK’s first contactless reusable coffee cup to prevent reaching for your phone or wallet at the counter.
  • 2018 was also the year where the ‘CashCuff’ was established by DressCodeShirts LTD. A tailored smart shirt which enables its wearer to pay for goods with the cuff of their shirt.
  • In 2019 the worlds first contactless payment ring – the K Ring – the subtle signet ring that allows you to pay for anything (with a £30 limit per transaction) with a simple fist pump.

These innovative designs almost make your smartphone or smartwatch payments seem boring, right? Although some may see the above as farfetched, with everything that has been going on globally it has become crucial for all businesses and brands to integrate technology into all experiences. The innovators behind these breakthrough ideas have been busy amplifying contactless beyond its limits – and I am not just referring to the new contactless £100 spending limit. Contactless has been on the rise for quite some time, but COVID-19 has accelerated the decline of cash and made considerable room in the market for new, convenient and stylish ways to pay.

Gone are the days when you had to carry your bank cards around with you or even take out your phone from your pocket to purchase items, innovation is a huge market and convenience is the key; we are looking forward to the future of contactless payments.

To find out more about Vianet’s Contactless payment Solutions through SmartContact, or speak to us about the possibilities on integrating contactless as a business solution for unattended retail, get in touch today.

 
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