Near Field Communication or NFC is the latest wireless technology that is creating quite a buzz. Although a new technology, NFC-enabled mobile devices, deployments and pilots are occurring around the world. NFC is a short-range wireless connectivity technology that allows communication between electronic devices. One of the key features of NFC is the ability to make payments by simply tapping a credit card to a mobile device. This feature is perfect for a mobile workforce that processes payments out in the field. The major benefits of NFC for mobile payment processing are:
- Reduced Cost- No need for a magnetic stripe reader peripheral
- Simplicity- Configuring, handling, storing and charging peripherals will be a thing of the past
- Accuracy- NFC reliably and securely transfers card information much like a card reader
- Speed- Just tap and go
Currently NFC chip-equipped credit/debit cards aren’t standard and few devices are NFC-enabled, but this technology has quite a future ahead of it. As more NFC-enabled devices are deployed and chip-equipped cards are issued, NFC is sure to have a dramatic impact on mobile payment processes.