At present, clients request quicker and more efficient routine ways in our more and more busy life. The companies left behind with failing to follow the latest development of technology. One of the saving time way is contactless payment, it offers a quick, simple and safe cashless payment choice for clients.
Near field communication (NFC) is a short distance and high frequency wireless communication technology. It based on Radio Frequency Identification (RFID) technology. At resent, this technology has already been leading the contactless payment market. The number of bank cards based on NFC is increasing, their share is more than 10% now. In 2018, NFC payment market will increase twice than the level of 2014, equating to a total volume of 10 billion dollars.
NFC technology as a way of mobile comunication has already become the largest trend all over the world. This technology applys widely in different areas, such as medicsl, public transportation, automdit sales business and government and private taxi services. Introducing technology needs a lot of output of asset and investment, many countries like Cananda, American and China are investing in its development and popularisation.
Besides, many companies and suppliers offer a grace period or a chance to use it freely to popularise this technology. In general, service suppliers gain interests from each trade to achieve monetise NFC service.
It’s an effective way to beyond rival by using NFC technology in businss. Clients can purchase without network, even without leaving their sats. Clients may make a decision to purchase, if the payment way is effective. In short, technology is developing sharply in the electronic payment and contactless area. Small business should adopt contactless payment to keep up with the consumption trends.