Yum! Brands is partnering with Visa to test contactless payments. The technology will be installed in a number of Atlanta area restaurants. “We’re always exploring new ways to better satisfy our customers, including making it more convenient for them to visit our restaurants with this new contactless payment technology from Visa,” said Connie Hayes-Badon, Assistant Treasurer, Yum! Brands, Inc.
Visa Contactless allows customers to maintain possession of their credit card while making purchases. In addition, no signature is required for payments under $25, making Visa contactless payments fast and convenient. The transactions use a capability embedded in the card that contains payment information, which can be processed rapidly and securely over an extremely short distance at the point of sale terminal. All other aspects of the contactless transaction are handled in the same way as a traditional credit – or debit – payment transaction.
Visa tests show that contactless payments are up to 25 percent faster than cash transactions and provide a range of speed and convenience benefits to merchants, including enabling merchants to track the day’s receipts electronically.