NFC Retail and Payment

NFC Retail and Payment2019-12-06T01:58:27+00:00

To be successful today, brands and retailers need to compete more effectively in a mobile-first, omnichannel world. NFC technology offers a multitude of ways for brands and retailers to develop and strengthen a connection with the consumer at every step throughout their journey – pre-purchase, in-store, and post-purchase. NFC helps consumers by connecting them to helpful information when and where it’s needed, offering a channel to interact with brands, delivering offers and rewards, providing the simplicity of one-tap payment, and more. For retailers and brands, NFC can lead to revenue growth, better customer experiences, new insights via customer analytics, and deeper, long-lasting relationships with the people who buy and use their products.

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Opportunities for Brands and Retailers

When viewed through the lens of traditional business metrics, the prospects for brand and retailers today couldn’t appear more challenging:

Consumer loyalty is fading: 90 of the top 100 Consumer Packaged Goods (CPG) brands have seen their share decline, according to a 2015 study by Catalina, a leading digital and consumer loyalty firm.

Customer experience scores have plateaued. No brand studied by Forrester Research has achieved significant improvement in trust and experience scores since 2016.

Two-thirds of consumers surveyed said that the number of companies or brands they consider when making purchase decisions has increased significantly compared with 10 years ago.

Mobile has become the preferred way to get online: an eMarketer forecast noted that the number of US internet users who go online exclusively via mobile device will reach 52.3 million by 2021, as people transition from personal computers to mobile devices. (1)

Even traditional in-store retail depends on mobile: according to Google, 82% of smartphone users say they consult their phones before they make purchases in-store.(2)

In a study by Strategy Analytics, consumers tested in five-in-store retail scenarios preferred using NFC 2-to-1 over QR codes and as much as 8 to 1 over Bluetooth beacons.(3)

These findings confirm that consumer expectations and behaviors are fundamentally shifting as e-commerce continues to grow and consumers of all ages increasingly turn to their mobile devices to consult online reviews, research products, get recommendations, and comparison shop.

Utilization of NFC technology can help build a strong direct connection with each person throughout the consumer journey, beginning before the purchase and continuing after the sale.


NFC Retail and Payment


Bridging Digital and Physical Retail with NFC

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Next Generation Retail & Brand Experience Infographic

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