NFC Retail and Payment

NFC Retail and Payment2020-05-21T19:44:39+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

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


Case Study – Blockchain And NFC Create Tamper-proof Product Authentication Ecosystem

Annual sales of counterfeit goods total a staggering $1.7 trillion worldwide impacting confidence and product sales. collectID’s solution to this problem is to combine blockchain with NFC technology to create a complete product authentication ecosystem allowing every user to easily authenticate and trade any product by simply tapping the smartphone on the item. The Switzerland-based company provides products a unique identity based on its characteristics (e.g., watches) or a collectID NFC chip embedded into the product (e.g., sneaker). The unique identity of a product gets connected to a token that is safely stored on the blockchain forever.

May 15th, 2020|Categories: Blog|0 Comments

MintID Uses NFC To Provide Gold And Silver Bullion Products A Digital Identity

New, exciting and innovative products using NFC can be found everywhere around the globe.  We collect some of the best examples and display them on the NFC Forum Product Showcase.  If you haven’t visited the NFC Forum Product Showcase page in a while – or ever – we encourage you to check it out and see some of the really cool ways NFC is being used in a wide variety of products and solutions.

May 1st, 2020|Categories: Blog|0 Comments

Retail and Payments Blog Posts


Case Study – Blockchain And NFC Create Tamper-proof Product Authentication Ecosystem

Annual sales of counterfeit goods total a staggering $1.7 trillion worldwide impacting confidence and product sales. collectID’s solution to this problem is to combine blockchain with NFC technology to create a complete product authentication ecosystem allowing every user to easily authenticate and trade any product by simply tapping the smartphone on the item. The Switzerland-based company provides products a unique identity based on its characteristics (e.g., watches) or a collectID NFC chip embedded into the product (e.g., sneaker). The unique identity of a product gets connected to a token that is safely stored on the blockchain forever.

May 15th, 2020|Categories: Blog|0 Comments

MintID Uses NFC To Provide Gold And Silver Bullion Products A Digital Identity

New, exciting and innovative products using NFC can be found everywhere around the globe.  We collect some of the best examples and display them on the NFC Forum Product Showcase.  If you haven’t visited the NFC Forum Product Showcase page in a while – or ever – we encourage you to check it out and see some of the really cool ways NFC is being used in a wide variety of products and solutions.

May 1st, 2020|Categories: Blog|0 Comments