FREE REPORT — NFC: Near Field Communication Has A New Chance To Become The Standard Tech For In-Store Mobile Payments  For years, analysts have said we would soon be ditching our plastic credit and debit cards and start paying with our mobile phones. Our smartphones would use a radio frequency called near field communication (NFC), to send payments data to compatible store registers. But NFC-based apps like Google Wallet failed to gain popularity, and NFC fell out of the mobile payments conversation. In a new report from BI Intelligence, we take a look at why NFC is back. Apple's inclusion of NFC on the iPhone 6 and 6 Plus will spur a change in consumer behavior. Recent developments on the consumer, merchant, and developer side are reinvigorating NFC and making it a strong contender to become a leading technology for in-store mobile payments. - Globally, over 400 million NFC-enabled phones will ship this year, according to IHS, rising to 1 billion by 2018. That means that the foundation is laid for NFC-based mobile payments on the consumer side as well.
- The EMV security standard, which calls for credit cards with embedded computer chips, is driving retailers in the U.S. to upgrade their payment terminals and many of these new terminals are also NFC-compatible. That means that consumers will have plenty of options for where they can use NFC-based mobile wallets, which will catalyze adoption.
- Contactless cards will act as a bridge for getting consumers to pay with their phones. Contactless cards, which interact with readers that are also NFC compatible, are already gaining popularity in Europe for low-value transactions. Consumers would easily transition from contactless card payments to NFC phone payments.
Click here to download your free report » For a limited time, you can download this BI Intelligence report for FREE, courtesy of UPS CONNECT.  UPS CONNECT is a free program with timesaving tools, exclusive discounts, and a dedicated team of experts to help your small business grow. |
No comments:
Post a Comment