SM now offers ‘contactless payments’ with Visa
SM, the Philippines’ largest chain of department stores and partner boutiques, has become the first retail group to accept VISA’s contactless Tap-to-Pay feature. This innovation is brought by their partnership to offer contactless payments for a faster, efficient, and easier way to pay for their purchases in all SM establishments and affiliate stores.
Stuart Tomlinson, Visa Country Manager for the Philippines and Guam and Chelo C. Monasterio, President for The SM Store officially launching the partnership for contactless payments
There will be 5,000 contactless terminals enabled across 59 SM Stores in 68 SM Supermalls in the Philippines starting April 5. With this, consumers can just simply tap their cards on a payment terminal to complete a transaction. The new payment system only takes 4 to 6 minutes, cutting transaction time by 60 percent. There will also be no need to sign for payments under Php 2,000, a capping placed for the customers’ security to “prevent any particular fraud level.”
“This is the first time that a leading retail company is driving contactless at all its outlets in the Philippines, which is an important milestone for us,” says Stuart Tomlinson, Visa Country Manager for the Philippines and Guam. “We want to show Filipinos how contactless payments can elevate and transform their shopping experiences. Likewise, we believe contactless payments will also improve the productivity level for cashiers at the various retail outlets so that the service staff can tend to customers faster.”
A game where a tapping motion is required to play to educate and introduce the new cashless payment service.
The launch was done in SM Makati where terminals are set up by Visa with BDO Unibank to introduce and offer the latest payment system. Using games where a tapping motion is required to play, Visa aims to reach more consumers and educate the public about the benefits of the system. After this launch, Visa hopes to see a growth in usage of contactless payment systems in the Philippines.
The Visa Contactless symbol
To start contactless shopping, your Visa card must have the Tap-to-Pay symbol. If not, you can contact your bank to have the card replaced. Start using Visa’s contactless payment at all SM Stores nationwide today!
