US-based payment technology firm Verifone has formed a new collaboration to accept both contact and contactless Mastercard EMV transactions on its payment devices across North America.
The move is expected to speed up the checkout process for merchants and customers, who will also be provided with EMV-secure payment options.
As majority of the US retailers use Verifone payment solutions, the firm expects to drive scalable acceptance for contactless NFC.
Verifone senior-vice president of Business Development, Richard Char said: “Quicker transaction speed with enhanced payment security is ideal when lines are long and customers are ready to check out.
“Verifone is committed to working with Mastercard to support contactless NFC and make EMV adoption a superior experience for both merchants and consumers.”
According to Verifone, contactless technology could enhance the interaction between retailers and consumers at the point-of-sale terminals or in the aisles.
The technology further enables merchants to track and provide rewards to customers, while maintaining security or avoiding additional risk and brand loyalty.
Mastercard executive-vice president of merchants and acceptance, Linda Kirkpatrick said: “We are delighted to work with Verifone to promote industry awareness on the benefits of contactless and expedite the availability and enablement of this technology in the marketplace.”