Where to find near field communication
Near field communication is currently enabled on a range of smart phones, with many others about to follow suit. This means that smart phones can communicate with devices in order to share information, and can do so just by being in close range and tapping the device it wishes to communicate with.
Smart phones can be set up to contain all of your payment information so that you can use it to communicate your card details with a payment device to secure you transaction and make your purchase. This means that transactions can be done far more speedily. You could even store multiple card details and payment information in your phone so that you can select your payment method much in the same way as you might when you choose a card or cash from your wallet.
Making payment processes more efficient
The speed of processing payments in this way could negate the need for cash registers as well as the staff that is required to operate tills. This means that the staff that would have been used for these roles can be cascaded out onto the shop floor to enhance customer service at no extra cost to the business.
The consumer and the business win!
Incorporating social networking into your strategy Social networking can be incorporated into near field communication too. We already know about the value of social networking and how powerful it can be for promoting businesses so there is no reason why NFC cannot be used to encourage social networking as well. Thinking through the possibilities could mean consumers receiving prompts as they enter shops and restaurants to update their social networking sites and register their location or tweet about where they are. Discounts and incentives could be offered in turn for the promotion.
What we can expect from different industries
The impact of NFC is substantial and means that most processes can be sped up and made more efficient from the consumers’ point of view. The impact on the business is that it could improve services and increase revenue. Businesses could choose to redirect their resources toward other efforts that are aimed at service improvement. The key with near field communication is to consider how it can best be used. Many businesses will look at manipulating the technology to get the most out of it and unless other competitors do the same, it is likely they will be left behind. There will always be room for cash and card payments because certain sections of the demographic will have preferences for certain payment methods, but NFC is about providing options to the consumer.