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.

(1) emarketer.com/report/us-digital-users-emarketer-forecast-2017/2001987
(2) thinkwithgoogle.com/marketing-resources/micro-moments/mobile-shoppers-consumer-decision-journey/
(3) nfc-forum.org/.wp-content/uploads/2015/01/nfcforum_retailbrandwp02.2015ffff.pdf

NFC Retail and Payment

Resources

Bridging Digital and Physical Retail with NFC

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Next Generation Retail & Brand Experience Infographic

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2018 Innovation Award Winner

1trueid: Making Sure your Goods are Good

The international trade in counterfeit goods is currently worth around $460 billion a year – or four times greater than the value of drug trafficking. 1trueid aims to change the counterfeit goods black market with its anti-counterfeiting and traceability solutions. Their solution is the first secure digital identity enabler distributed in a Social Blockchain environment using different technologies, such as NFC, RAIN RFID, BTLE and PJM. You could call 1trueid’s unique solution a social IoT networking platform. 1trueid allows for the sharing and communication of intelligence between everyone involved in the design and manufacturing process of a product. Blockchain technology allows 1trueid’s system to track and confirm the owner and the authenticity of a manufactured product from start until finish.

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New Book Shows How to Activate The Real World With NFC Mobile Marketing

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Retail and Payments Events of Interest


5G And NFC: Linking The Internet, Machines And Humans

As 2019 comes to an end, the next generation of cellular networks - 5G is getting deployed by cellular operators across the world in different cities. Similar to the 4G revolution that started 10 years back in 2009, we will soon see people upgrading to 5G enabled mobile phones. As of October 2019, the number of announced 5G devices has risen to 129, across 15 form factors, from 56 vendors and includes routers, robots, vending machines, etc besides mobiles phones.

November 25th, 2019|Categories: Blog|0 Comments

NFC Technology Helping to Fuel ELATEC Americas’ Market Expansion

NFC Forum Member ELATEC is amid a major expansion in the Americas and recently appointed Paul Massey as its new CEO for ELATEC Americas to provide strategic leadership and drive market growth.  ELATEC is a global leader in wireless user authentication, authorization, and access control technology.  Its remotely updateable, universal RFID/NFC/BLE readers help OEMs, Integrators and VARs provide secure, “future proof” user authentication for access control for their customers.

November 19th, 2019|Categories: Blog|0 Comments

Retail and Payments Blog Posts


5G And NFC: Linking The Internet, Machines And Humans

As 2019 comes to an end, the next generation of cellular networks - 5G is getting deployed by cellular operators across the world in different cities. Similar to the 4G revolution that started 10 years back in 2009, we will soon see people upgrading to 5G enabled mobile phones. As of October 2019, the number of announced 5G devices has risen to 129, across 15 form factors, from 56 vendors and includes routers, robots, vending machines, etc besides mobiles phones.

November 25th, 2019|Categories: Blog|0 Comments

NFC Technology Helping to Fuel ELATEC Americas’ Market Expansion

NFC Forum Member ELATEC is amid a major expansion in the Americas and recently appointed Paul Massey as its new CEO for ELATEC Americas to provide strategic leadership and drive market growth.  ELATEC is a global leader in wireless user authentication, authorization, and access control technology.  Its remotely updateable, universal RFID/NFC/BLE readers help OEMs, Integrators and VARs provide secure, “future proof” user authentication for access control for their customers.

November 19th, 2019|Categories: Blog|0 Comments