Convenience and ease of use
Consumer expectations for convenience are always on the rise. In almost any situation consumers will typically flock to the fastest, easiest and most convenient option. Near field communications make payment transactions easy, as consumers often only need to hold up their phones or their NFC cards to make a payment. Unlike EMV transactions where consumers had to learn to dip, and wait, NFC-enabled smartphone payments are typically simple and intuitive..
Security protections afforded by smartphones make NFC payments even more secure. In addition to the protections from tokenization of private and personally-identifying data, smartphones add an additional layer of personal authentication, like passwords and biometric security. All of this additional security is layered on top of existing fraud filters and other security measures, like EMV, that help protect all electronic payment transactions..
Improved operational efficiency
Near field communication means less time per transaction. That represents a critical operational efficiency for businesses that turn a high volume of transactions at checkout. Happier customers and more efficient operations are measured in the bottom lines of businesses everywhere..
Ease of implementation
Near field communication technology is easy to implement. You’ll need NFC-enabled payment terminals, like credit card terminals or integrated point of sale systems. Fortunately, most new payment acceptance equipment sold today or in the recent past already contains near field communication technology built in. Setup is simple and quick.