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How to maximise your gains as a merchant with optimised contactless payments

How to maximise your gains as a merchant with optimised contactless payments

In the era of digital payments and rapid technological advancements, merchants are constantly seeking ways to improve their payment processing systems and maximise their gains. 

Barclays estimates that in 2022, over 90% of transactions eligible for contactless payments were paid that way. A higher spending limit in 2022 resulted in people using contactless payments for an average spend of £3,327 in the UK. 

One way to enable merchants to improve payment processes is by implementing optimised contactless payments and partnering with a next-day settlement provider. 

This article will explore the benefits of next-day settlements, key factors to consider when choosing a provider, and how to optimise customer contactless experience for business growth.

Understanding next-day settlements

Next-day settlements refer to the process by which funds from credit or debit card transactions are deposited into a merchant’s account within one business day after the transaction takes place. This is a significant improvement from traditional settlement times, which could take two to five business days.

Benefits of next-day settlements for merchants

Improved cash flow

With faster access to funds, merchants can manage their finances more efficiently, pay vendors and suppliers promptly, and invest in new opportunities.

Reduced risk of chargebacks

Next-day settlements allow merchants to address potential disputes more quickly, reducing the likelihood of chargebacks and improving customer satisfaction.

Enhanced competitiveness

By offering fast, secure, and reliable payment processing, merchants can stay ahead of their competitors and attract more customers.

Key factors to consider when choosing a next-day settlement provider


A reliable provider should have a proven track record of processing payments accurately and consistently, with minimal downtime or disruptions.


Ensuring the safety of sensitive customer information is critical. Choose a provider with robust security measures in place, such as encryption and tokenisation, to protect your customers’ data.


Compare the fees and charges associated with different providers to ensure you select one that offers the best value for your business.

Customer support

A provider with responsive and knowledgeable customer support can help you resolve any issues quickly, ensuring a smooth payment experience for your customers.

How to optimise contactless payments for customers

Offer a variety of payment options

Cater to different customer preferences by providing a range of contactless payment methods, such as mobile wallets, wearables, and contactless cards.

Ensure transaction speed

Fast and seamless transactions are crucial for customer satisfaction. Implement a payment processing system that guarantees speedy and efficient contactless payments.

Provide clear transaction details

Customers appreciate transparency in their transactions. Display easy-to-understand details, such as the transaction amount and merchant name, on customer receipts and payment terminals.

Train your staff

Ensure your staff is well-trained in using contactless payment technology and can assist customers with any questions or concerns they may have.

Balance security with efficiency

While optimising the contactless experience is essential, balancing security and convenience is equally important. Implementing additional security measures, such as two-factor authentication or dynamic CVV codes, can help protect your customers’ information without compromising the speed and efficiency of contactless payments.

Benefits of combining contactless and next day settlements

Faster access to funds

By combining contactless payments with next-day settlements, merchants can enjoy quicker access to their funds, allowing them to manage cash flow and financial obligations better.

Reduced processing fees

Some next-day settlement providers may offer lower processing fees for contactless transactions, helping merchants save money and improve their bottom line.

Enhanced customer experience

Contactless payments are known for their speed, convenience, and ease of use. By offering contactless payment options alongside next-day settlements, merchants can provide a seamless payment experience, increasing customer satisfaction and loyalty.

Improved operational efficiency

This combination streamlines the payment process, reducing the time and effort required to manage transactions. It frees up more resources for merchants to focus on other aspects of their business.

Better risk management

Faster access to funds through next-day settlements allows merchants to address potential disputes or chargebacks more quickly, reducing the likelihood of financial losses and maintaining a positive relationship with their customers.

Competitive advantage

By adopting both contactless payment solutions and next-day settlements, merchants can differentiate themselves from competitors and attract more customers seeking convenient and efficient payment options.

How to optimise your contactless payments experience

Trust Payments has developed a point of sale (POS) offering that uniquely allows retailers to speed up the checkout process, engage customers and sell on the go with a single view of products, customers, and inventory. It has won the 2023 Merchant Payment Ecosystem Award for Best-In Store Payment Solution.

With intelligent, fit-for-purpose POS technology, we help global retailers connect and deliver exceptional customer experiences in-store and online – all of which support self-checkouts and wireless contact payments on the move. 

Let our experts help you optimise your contactless payments experience!

Security statement

Security is our top priority at Trust Payments and we strive to ensure that all data is kept secure at all times We keep all customer data safe with AES256 encryption, SSL Certificates, and a minimum of TLS1.2, between your website and our datacentres.

Our systems are scanned quarterly using the Qualys PCI Platform, an independent Qualified Security Assessor (QSA) and approved vendors – Omnicybersecurity (UK) & Forgenix (US) – to ensure compliance with the security requirements of the card schemes.

We follow a number of rigorous security procedures on a daily basis including, but not limited to, continuous monitoring of our perimeter, dark web monitoring, and internal checks to ensure that CIA triad is maintained at all times.