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In the great scheme of things does contactless payment really save that much time compared to a chip-and-pin system? Do you have any figures or stats backing this up?
Yes, it does save time. A transaction takes less than half a second which is a significant improvement on Chip & PIN. But for businesses, such as supermarkets, it doesn't make sense to think in terms of single transactions. A person holds up a queue if they enter their PIN, count out change in their hand, or delays a transaction by withdrawing their card too soon. Replicate these scenarios by hundreds and you have an accurate representation of an express outlet of a supermarket or a busy coffee shop. That then means longer queues, which leads to customer dissatisfaction and, with two thirds of us admitting to abandoning queues, lost revenue for businesses.
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