The way people pay for their products and services has been changing over the last few years. One of the technologies that have helped facilitate payment management has been NFC technology used by debit or credit cards or mobile devices. We can make a payment simply by bringing the card or device close to the payment device.
Mobile POS payment is increasingly widespread, so you should be aware of what this technology entails and the importance of having the appropriate point-of-sale terminal. In this post, we are going to show you what NFC is and why it is essential that you have a POS with NFC technology.
What is NFC technology in POS?
The acronym NFC stands for Near Field Communication. It consists of wireless technology that aims to exchange data between devices securely and is what allows us to pay instantly without the need to bring a debit/credit card with NFC to a payment device or mobile dataphone—inserting the card.
Modern POS systems include data phones that allow payment with Contactless cards, which makes the payment process more accessible for customers since they do not necessarily have to enter the card or its PIN code, except for the amount and security—required by the device.
With a mobile POS, it is easier to charge your customers wherever they are, something very common in cafes and restaurants.
Advantages of POS terminals with NFC
There are different direct advantages of implementing a POS system that allows users to pay with NFC, mainly with regard to mobile payment, which is a form of payment that has been growing enormously in recent years and especially in new generations.
Let’s see what benefits a POS with NFC entails.
Streamline the payment process
The POS with NFC helps speed up the payment process so that buyers do not need to use cash, nor is it essential that they insert the card into the payment device in many cases. We must also take into account that the goodbye to cash collections is getting closer and closer.
Comfort
Paying using NFC technology is more convenient. For example, it makes it possible for many people with a smartphone with NFC and their bank application installed not even to need to have a physical card to make the payment.
Mobile device compatibility
Current smartphones include NFC functionality, so you can activate it and make payments through your smartphone. It must be a device compatible with NFC since not all mobile phones (especially older ones) allow this functionality.
Transaction history
The operations carried out to make payments with NFC at the POS are automatically recorded, and both parties (buyer and seller) have a record of the transaction that has been carried out, so in the event of any claim or return request, The purchase can be justified without risks.
Data security
Payments that occur through NFC are entirely secure, unlike other remote payment methods, such as payment links, which can increase the risks for the user.
Greater efficiency at points of sale
Another advantage of having a POS with NFC is that it will help you improve efficiency at points of sale, avoiding errors and delays that could impact the operation of your business.
Also Read: How To Set Up A Profitable Online Business
How do you choose the right POS to make payments via NFC?
When choosing a POS system suitable for making payments via NFC, it is essential to take into account the needs and objectives of the company. The compatibility of the POS with NFC is very important. In many cases, restaurants and retailers that want to implement a POS system have multiple sales channels, such as physical establishments or an online store.
The POS system must allow for having both POS software accessible in all establishments, as well as a virtual POS to manage payments in the online store. Furthermore, it should be synchronized with your inventory so that whenever products enter or exit, the stock is automatically updated.
On the other hand, implementing NFC in an existing POS is not easy, so the idea is that if you use an obsolete POS management tool, you can change to a new point-of-sale terminal system.
What types of transactions can be carried out at a POS with NFC?
A POS system that has the appropriate hardware and software for NFC payments allows different types of transactions to be carried out.
Contactless payments
With a Contactless POS, your customers will be able to pay for their products through a Contactless card simply by bringing their card close to the payment reader to make the transaction faster. Thanks to POS mobility, it will be optional for customers to be near a specific system to be able to make their payment, thus being able to do so from the table.
Mobile payments
Mobile payments have become increasingly popular. Users who have a smartphone with NFC and their bank’s app or payment application installed will be able to make the payment on the payment device or dataphone just by bringing their smartphone closer as long as they have the NFC option activated.
Loyalty cards
When choosing a sound POS system to accept mobile payments and debit or credit cards, you should know that there are tools that allow you to manage contacts and customer registration and loyalty and discount cards. Users can have them installed on their mobile phones and be eligible for discounts on their future purchases, regardless of the establishment they go to and without having to have a physical card.
Payments with wearables
Today, there are many devices equipped with NFC that can allow us to make payments, not just mobile phones. Payments can be made with a tablet, a smartwatch or other payment methods as long as they have NFC technology. Imagine, for example, being able to use a smartwatch to pay with NFC; you don’t even need to take your phone out of your pocket to spend. In some cases and for certain transactions, a PIN may be requested to confirm the payment.
How to ensure that NFC POS transactions are secure
Modern mobile devices allow you to activate various security measures to ensure that NFC transactions are secure. For example, a code or fingerprint can be configured as a requirement to validate the attempt to pay with a mobile phone at POS. It is also possible to configure that NFC can only be used when the screen is unlocked.
Also Read: Advantages Of Using A POS In The Cloud For Restaurants
