If You Have Not Considered Accepting Mobile Payments Maybe You Should Be
The ability to pay for items with mobile payment technology is slowly being adopted by small businesses and big brands alike. Square, a company started by Twitter founder Jack Dorsey, has already begun airing commercials about it’s mobile credit card scanner. However, Square isn’t the only game in town when it comes to mobile payments.
Although Near Field Communication (NFC) Technology may be 2 to 4 years from widespread adoption, it is gaining traction in the mobile industry. NFC technology already has big name investors such as Google, Nokia, RIM, so it is a good idea that, as an entrepreneur, you familiarize yourself with this emerging tech.
NFC is an innovative technology that enable smartphones and other devices to establish a connection with one or more devices when they touch or are merely within close proximity. This technology can already be seen on the Samsung Galaxy S III smartphones and is widely advertised in product commercials.
Mobile Payment Technology Already in Use
While touch to share tech can be fun and social, the real innovation of NFC technology is in the potential it has for the global payment card industry. Giants such as Visa and MasterCard are already testing this mobile payment application. NFC technology can empower consumers to make payments directly from their smartphone at any retail store or payment kiosk.
NFC and Uses Other Than Mobile Payments
NFC technology is extremely flexible, allowing for more creative deployments and is viable for more than just mobile payments. NFC harnesses radio frequency identification (RFID) technology that is built in to the latest generation of mobile phones. Smartphones can scan RFID tags, which are small enough to be placed just about anywhere, trigger a variety of actions based on how the individual tag is programmed.
For example, through the addition of a NFC tag, a traditional marketing display can be transformed into a “Smart Poster”. The tag enhances this standard method of advertising by offering the smartphone-carrying customer additional bonus content. By tapping their NFC phone on the “Smart Poster”, the customer can receive a short video preview, directions to the business or even an electronic voucher redeemable at the business. All of this serves to increase customer engagement, thus increasing sales.
For organizations that have field operations, NFC technology can lead to better management, better communication and better customer service. Whenever a field operative scans an NFC tag with their mobile phone, the operational management team can receive an instant and verifiable confirmation of the location of their field staff. Field managers can use the real time data provided by NFC to generate customer reports and measure results faster than ever before.
Near Field Communication and mobile payment technology may still be a few years away from widespread adoption but staying informed about the options and advantages it can provide to your small business is key to staying ahead of the curve. Mobile technology has a huge impact on how we conduct business today, so if you aren’t currently leveraging mobile technology to grow your business and reach your customers, now is the time start. You don’t have to start with emerging tech, like NFC, start with something simple like mobile ads or apps.
Whatever you do, just make sure that you get your business in the mobile game.