NFC is a short-range wireless technology that began in the payment-card industry but now is evolving to include several applications in numerous industries all around the world. To enable two devices to communicate with each other, NFC transmits data through electromagnetic radio fields and the devices must contain NFC chips and be in very close proximity. NFCs greatly reduce the chance of human error because the receiving device reads the data the instant it is sent. So, why the popularity?
1. Easy to use and convenient
Customers’ expectations especially for convenience are always on the rise. They will flock to the easiest, fastest, and most convenient option. With an NFC POS reader, consumers only need to hold up their phones to make payments, therefore, transactions are easy. NFC-enabled smartphone payments are typically intuitive and simple. Mobile wallets are using NFC as customers have their smartphones with them always.
2. Enhanced security
NFC’s advanced encryption allows institutions to use it to admit or screen employees’ or students’ IDs. In some cases, the IDs can be used to interact with objects in an office environment such that sharing real-time information with other devices or users. Also, in the unfortunate event of theft of the mobile device, the user’s credit card information is PIN-and password-protected. Retailers have no physical access to the customers’ credit card information with NFC-enabled payment cards as they are built to be more secure than the magnetic stripe of a regular credit card.
3. It’s a highly versatile platform
NFC covers a range of industries and services. As a payment platform, NFC can be used for restaurant reservations, mobile banking, redeeming rewards and coupons, booking movie or train tickets, and delivering real-time updates on expenditure and reward points.
4. Beneficial to enterprises
NFC presents a dynamic and forward-thinking mindset. Due to its convenience, customers are better served through this hassle-free technology which in turn, increases productivity and improves brand reputation. NFC payments help to speed up checkout lines, therefore, increasing customer satisfaction with the business.
5. No special software is needed
NFC devices don’t require any software or manual configurations and settings to work. The technology is in-built into smartphones, therefore, it doesn’t require search and pair procedures like Bluetooth to establish connectivity.
6. Contactless payment
NFC technology is mostly used for contactless payment as credit cards, smartphones, and other payment cards feature this technology. With NFC payments, less time is spent per transaction. Through the NFC interface and as long as the smartphone has a biometric authentication feature, the smartphone will support contactless payment of larger amounts without a PIN.
7. Instant connection and wireless information exchange
NFC connection and data exchange occurs in a split second especially if the two devices are closer to each other. Instant connectivity makes NFC extremely convenient for businesses. Also, you don’t need wires to connect two NFC devices as the NFC tag or sticker works wirelessly. With a smartphone, you only require the in-built NFC function and proximity to the second device for data exchange to be successful.
Conclusion
NFC technology is user-friendly, quite universal, and affordable. There are many ways to use NFC to streamline some of your business processes. However, the industry is expected to grow largely in the coming years.
Nexqo is a professional RFID & NFC hardware provider with more than 10 years of experience in this industry.
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