What Is QuickPay?
Accepting credit and debit cards in your business improves customer service and allows people to pay for goods and services quickly. However, there is more to consider when it comes to credit card processing. QuickPay is one such solution that merchants implement to make the process even easier for customers and reduce average transaction times.
With QuickPay, no signature is required for select merchants processing transactions under $25. While EMV chip cards require chip-and-signature or chip-and-PIN combinations for identity authentication before a transaction is completed, QuickPay delivers flexibility for customers when paying for goods and services. QuickPay offers speed and convenience for your customers by allowing them to quickly complete low-dollar purchases without waiting for signatures or PINs to be processed.
How Does QuickPay Work?
Process the transaction the same way, but no signature or receipt is required unless a receipt is requested by the cardholder. This makes small ticket card acceptance convenient, fast, and easy for customers and sales staff. Rather than having to wait for transactions to be verified with a signature or PIN, which can slow down the process, customers are instead able to simply insert or swipe their card and be on their way.
Your Leap Payments account representative will be able to assist with setting up QuickPay and help you discover the POS system and terminals best suited for your business and location. This will enable you to offer QuickPay for customers while also reaping the benefits on your side.
Benefits of Offering QuickPay
When implementing QuickPay for your business, your customers receive a seamless experience and can quickly and conveniently shop and pay for merchandise without delays. Merchants also benefit from this in multiple ways, such as:
- Faster Transactions – Both customers and merchants experience faster transactions than normal with QuickPay. This allows merchants to complete more transactions in the same time frame when dealing with low-dollar sales.
- Reduced Receipt-Associated Costs – The requirement to provide a receipt is eliminated, unless the cardholder requests one. This results in lower costs on related supplies, such as paper and ink, while also reducing the amount of time it takes to complete a transaction.
- Eliminated Retrieval Requests – Merchants don’t need to retain transaction receipt copies or respond to issuer retrieval requests, helping reduce their back-office More efficient filing processes lead to more streamlined management.
- Greater Chargeback Protection – Merchants are protected against specific chargeback reason codes on qualifying transactions, which can result in reduced dispute handling costs. This gives merchants greater confidence when processing transactions under $25 because they are fast and secure, and they are protected from certain types of chargebacks.
- No New Equipment Required – QuickPay is a program that helps to make the payment process faster, easier, and more convenient for everyone. It allows merchants to eliminate cardholder verification and receipts on qualifying low-value
Contact Leap Payments directly to see how simple it is to implement a QuickPay solution in your existing setup. You will also be able to evaluate your current credit card payment processing services and see how you can improve customer service and efficiency.