You might not have heard of NFC (Near Field Communication) payments, but you’ve probably used them or at least seen them. NFC is the technology behind contactless payment options like Google Pay, Apple Pay, and contactless cards. These kinds of payments have become a lot more common in the last few years and soon, they will become the standard for everybody.
As more people start using NFC payments, your business should adopt them too. There are a lot of great benefits for you as well as the customer and if you don’t invest in it now, you will lose out to your competitors. Here’s why all businesses should adopt NFC payment technology.
Customers Expect It
When customers are deciding where to spend their money, they want a quick and easy experience. People will consider the different types of payment solutions available and if you don’t have modern options like NFC payments, it can put some people off. But if people come in and see that they have a wide range of payment options available to them, this instantly gives them a good impression. NFC payments are becoming more widespread and they will soon be the norm. In the future, companies that don’t offer NFC payments will be viewed in the same way as places that only take cash payments.
It Speeds Things Up
Paying with cash is the slowest way to pay, but cards aren’t much quicker. Each customer spends a minute or two putting their card in and then inputting their PIN number. If the card machine is slow, this can really hold things up. NFC payments just require a quick tap of the phone or card, so payment is taken in seconds. Speeding up your payments makes life easier for the customers and it also reduces the time it takes to process each sale, meaning you can make more sales in a shorter space of time. Even if you are only saving around 30 seconds per transaction, that time saving quickly adds up, meaning less pressure on your staff too.
People often worry that NFC payments are not very secure but that isn’t the case. As the name suggests, they only work when the signal is a few centimeters away from the payment device. This means that they cannot be hacked remotely. When people are using NFC payments on mobile devices, there are added security features in place. Usually, you have to use your fingerprint before the payment will go through, so it is not possible for others to take your phone and use it. Although there are still some potential security issues, NFC payments are more secure than simple card payments.
It’s Easy To Implement
NFC payments are very easy to implement in your business. It’s just a case of upgrading your payment terminals to ones that are capable of handling NFC signals. You can get some great NFC-enabled terminals that will integrate with your existing payment systems and work seamlessly with online payments too.
NFC payments are fast becoming the norm and your business will benefit from them in a number of ways, so you should start implementing them now.