The United Kingdom Post Office Ltd is moving forward with its plan to deploy mobile payment processi

The United Kingdom Post Office Ltd is moving forward with its plan to deploy mobile payment processing technology, while most merchants are approaching with caution, if at all. Starting June 6, the postal system will install new point-of-sale devices that can accept contactless payments at 11,500 of its branches.
Instead of swiping a magnetic stripe card to complete a transaction, consumers caribbean travel will tap a payment card on a near field communication (NFC) enabled smartphone against the reader. It also eliminates the need of PIN entry and signature verification.
If the UK postal system launches a successful pilot program and retailers follow suit, they might realize a significant rise in revenue, according to research from MasterCard. The credit card giant discovered shoppers are likely to spend as much as 30 percent more when they use contactless transaction systems.
Retailers can take advantage of this trend by investing in new credit card processing services that can accept debit and credit payments whether a customer s using a magnetic stripe card, NFC technology or making online payments.