NFC is a technology that allows two devices to communicate with each other by touching them together, or bringing them within range of each other. It’s a form of short-range wireless communication, operating on the same basic principle as Bluetooth.
The way people make payments today is rapidly evolving. Traditional payments are being quickly replaced. Contactless solutions are the new future in a post-pandemic world. The adoption of Near Field Communication Apps or NFC Payment Apps is on the rise. It will continue to exist since it promotes zero touch.
With new regulations and social distancing rules in place, consumer-centric industry verticals such as Retail, F&B, FinTech and more are witnessing a growing use of NFC. They help minimise losses and increase efficiency to flatten the curve. Even famous brands such Walmart and Amazon have turned to NFC to enforce the introduction of hygiene practices, maintain social distancing, and use technology to curb the infection.
What Is NFC Payment?
NFC based payment is a technology that enables users to securely transmit and receive information through their phones over a short-range (usually 4 cm). It allows customers to perform transactions by simply tapping their phones on point of sale terminals, instead of swiping credit cards and entering in passwords with each purchase.
How Does Contactless Payment Work?
The process of payment is completed when the reader and the payment devices come together. The NFC chips help to exchange encrypted data, which helps in speeding up the checkout process. It’s one of the most secure and convenient payment methods.
NFC payments are quick and convenient. Use your smartphone or key-fob to make payments at contactless terminals with just a tap. There’s no wallet or separate card to fumble for – just hold your device against the reader and go! And unlike some other payment methods, NFC doesn’t require pre-registration or individual PIN codes; it works automatically with any compatible NFC device and reader.
Benefits Of NFC-enabled Payment Apps For Your Business
NFC is Swift
Nobody likes waiting in long queues anymore. That’s why the NFC technology makes payment processes easier and quicker than ever. All customers need to do is tap their credit card on the payment device.
NFC is Secure
Just like every other technology, NFC raises a concern of security for businesses. Rest assured, since the technology only works when a mobile device or card is placed at the proximity of the device, hacking instances are far less. Additionally, smartphones come with their security layer, stepping up payment protections.
NFC is Safe
It is completely safe since it is a contactless payment option. It doesn’t require customers to hand over a card to complete a transaction physically. A simple tap is enough to complete the payment process. It is an excellent way to limit physical contact to reduce the spread of germs
NFC-based payment is an innovative technology that will further enhance your business. The tap and pay apps help organisations introduce innovative payment options to regular customers. Businesses like you must adapt to the latest trends to ‘speak to the consumer.’ Additionally, adopting this technology on a larger scale will help you in your journey towards establishing a global presence.
At Rishabh Software, we have an experienced Enterprise mobile app development team with the required competency to help you with NFC payment gateway options. Our comprehensive knowledge of designing, creating and developing customised NFC-based solutions & services can help you render customers’ interactive experiences.
