Near Field Communication Payment Technology Unveiled by UK Merchant Service Provider Seymour Direct

In today's society where technology is rapidly evolving to provide us with more sophisticated and compact devices, payment processing technology is also benefiting greatly from this progression.

Rickmansworth, United Kingdom (prHWY.com) November 25, 2012 - There have been many updates to payment processing systems since the late eighties which have made consumerism a less stress free experience for both business owners and customers alike. Many of the changes which have taken place have been guidelines which help merchant's to protect their card terminals and networks against fraudsters, while other changes have been technological.

One the most significant changes was seen in the form of smart card introduction, in the UK every resident was issued with a new electronic chip credit or debit card to replace their existing card in 2004. To coincide with the new cards, a unique pin number was mailed to the card holder as an added verification process and when a customer purchases something they must insert their card into a Chip and Pin reader. The motivation for this new technology was to remove the threat of fraudulent transactions as a result of cloned magnetic stripe cards and forged signatures which were previous method of payment.

While it took UK residents some time to adapt to smart card technology, the outcome was a dramatic reduction of unauthorized charges and added measures were brought in to strengthen the new technology further. PCI compliance is a set of guidelines which all merchants must use to ensure there are no vulnerabilities with their pin entry devices and data networks, they should also educate staff on social engineering techniques carried out by criminals looking to intercept card sensitive information.

Following the success of Chip and Pin cards, the latest technology to be implemented widespread in Britain during 2012 was 'Near Field Communication' and this allows consumers to pay simply by waving a radio frequency card or a 'contactless enabled' card over a NFC terminal. Until recently it was only branded terminals available from Mastercard payPassâ„¢ and Visa payWaveâ„¢ that were available, however, these often came with high processing fees from acquiring banks.

Thankfully for small businesses across Britain, a renowned and long serving card processing provider called Seymour Directâ„¢ has recently be given the go ahead by card machine manufacturing giants Ingenico to start supplying UK businesses with its latest range of contactless card readers. The benefit of third party merchant services like Seymour Directâ„¢ is that they have established trust with acquiring banks and can negotiate lower transaction fees on behalf of small businesses.

If you would like to know more regarding NFC payments you can contact Seymour Direct on 0800 980 4007 or visit their website at http://www.seymourdirect.com

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Tag Words: nfc technology, near field communication, nfc payments

Categories: Business

Press Release Contact
Seymour Direct
124-126 High Street,
Rickmansworth,
Hertfordshire,
WD3 1AB
United Kingdom
Tel: 0800 980 4007

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