July 30, 2010
Spar is going contactless, attracted by the four pence per transaction the company could save by not asking shoppers for their PINs.
The supermarket chain will roll out contactless payment kit to its 2600 stores over the next couple of years at a cost of £700,000, which it intends to recoup from the lower transaction fees that the card companies levy on contactless transactions, NFC World reports.
Visa, for example, charges as little as a penny for a transaction worth under £2 if it’s completed wirelessly. Less than a tenner and the cost is only 4p, compared to 8p for a chip and pin-secured transaction.
That saving isn’t direct to the retailer, which works though a bank, but Spar thinks it can save 40 per cent on its transaction costs by going wireless.
This article was posted: Friday, July 30, 2010 at 10:19 am