Contactless transactions have become more than a convenience; they’ve become an essential component of doing business.

Not only have they become necessary to avoid the spread of COVID-19, but they’ve also become essential to support the next generation of business leaders, who have been raised on screens and expect virtual services for helping with everyday interactions.

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Banking transactions are no exception. In fact, many banks are leveraging the capabilities they already had in place before COVID-19 to meet this demand. Here are just a few ways:

Electronic payment solutions, offering Automatic Clearing House (ACH), wire transfers and online bill pay so you can meet your obligations — on your terms, to your advantage. For instance, you can help reduce the chance of internal fraud by using dual control to authorize payments, and you can release them when it’s most convenient for you to pay.

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“Touchless” and virtual receivable services such as lockbox, merchant services and other automated offerings that, for example, help you process incoming checks quickly, accurately, efficiently, and safely.

Online deposit capture tech for customers which lets them scan checks and put the funds right into their accounts, completely avoiding the need to travel or go into a banking center.

Ability to accept credit card payments online from customers anywhere—protected by multiple layers of security.

Virtual conferences through online video conference platforms that allow for face-to-face meetings while avoiding in-person contact.

Even better, many of these services offered by banks today come with built-in fraud protection which can safeguard against cyber-crimes and give both you and your customer’s peace of mind when conducting virtual transactions.

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By Don Troppoli, SVP, Regional Manager MA/RI at Webster Bank
He can be reached at

The opinions and views in this article are those of the author, and are not intended to provide specific advice or recommendations for any individual. All loans are subject to the normal credit approval process. SBA guaranteed products may also be subject to additional terms, conditions and fees.