For people who doubted the usability of NFC (Near Field Communication) , here is your proof. For people who trusted in it, the day you see it in action is near.
A leading US based payment solution provider Verifone has come up with Point-of-Sale (POS) terminals, which are capable of reading NFC chips, from devices like your smart-phone.
The CEO of Verifone, Douglas Bergeron says that retailers have to take initiative in popularizing this new mode of payment. They should recognize the increase in customer base and be ready to bear the initial costs for setting it up.
Bergeron specified in his press conference some rules which the retailers would have to follow to make this a success.
Now we'll have to wait and watch if this changes the world they way credit cards did.
All the new Android phones (running Gingerbread and above) , and the iPhone 5 is supposed to have NFC. With the market share that these phones have, we can hope this becomes a success.
Check the Verifone page for more details.
Pictures of some NFC enabled POS terminals by Verifone
A leading US based payment solution provider Verifone has come up with Point-of-Sale (POS) terminals, which are capable of reading NFC chips, from devices like your smart-phone.
The CEO of Verifone, Douglas Bergeron says that retailers have to take initiative in popularizing this new mode of payment. They should recognize the increase in customer base and be ready to bear the initial costs for setting it up.
Bergeron specified in his press conference some rules which the retailers would have to follow to make this a success.
Rule #1: "Deployment and management of complex NFC technologies will require significant ongoing services from the retailer's payment systems provider. Until retailers are assured of receiving real value from mobile commerce, service providers who stand to gain from either carrier fees, advertising revenue or transaction charges must be willing to bear the costs of this highly disruptive paradigm shift."
Rule #2: "Mobile commerce must add value to the consumer. Tapping a phone is a gimmick, no different from tapping a card or fob. In addition to providing the ability to pay for stuff by phone, service providers and retailers need to provide real additional value –- such as coupons, loyalty rewards and discounts -- for consumers to leave their wallets at home.
Rule #3: "Mobile commerce must be streamlined with existing POS services and managed well for the retailer. Retailers won't tolerate the need for multiple methods of acceptance to accommodate what will become a wide array of mobile commerce schemes. All ideas, regardless of where or who generates them, must converge at a unified point-of-sale."
Rule #4: "Mobile commerce must go from zero to 90 mph in five seconds. Consumers will not embrace mobile commerce without the confidence that it is being widely accepted. If it only works at a few select retailers, it dies a quick death. Ten percent acceptance is not sustainable."
Rule #5: "Mobile commerce must be integrated with other forms of payment. Mobile commerce won't lead to the quick death of plastic cards and must work with existing payment systems that are certified by all major processors and installed in the vast majority of large and small retailers."
Rule #6: "Mobile commerce must be ironclad secure. Security, both real and perceived, is imperative to the adoption and sustainability of mobile commerce. Even minor setbacks in security could compromise consumer adoption and stop the movement in its tracks.
Now we'll have to wait and watch if this changes the world they way credit cards did.
All the new Android phones (running Gingerbread and above) , and the iPhone 5 is supposed to have NFC. With the market share that these phones have, we can hope this becomes a success.
Check the Verifone page for more details.
Pictures of some NFC enabled POS terminals by Verifone
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