How To Accept Contactless NFC Payments At Your Business
NFC payments have been around for a while, even before COVID-19 made contactless transactions necessary. It’s no longer a choice, but a necessary strategy for businesses. Here’s how to start accepting NFC payments. Understand the Concept Near Field Communication (NFC) is rooted from the radio frequency identification (RFID) technology that was patented in 1983 by Charles Walton. In 2003, NFC technology was approved as part of ISO standards, and in 2011, smartphones paved the way to the introduction of NFC mobile apps. Know Why You Must Accept NFC Payments Cash is still popular in a majority of business transactions, especially those purchases that cost $10 or less. While that is the case, that payment method is seen to decline in the next few years. If you own a convenience store, you may have already heard customers requesting you to try NFC payments as this offers convenience when making payments. Going … Continued