What is NFC and Contactless Payment?

Near-field communication (NFC) is a technology that enables contactless payment or any payment method that can be processed by tapping the payment terminal. Common examples of contactless payment include Apple Pay or Google Pay. Most standard credit and debit cards today come equipped with a chip that enables touch-free payments. When a customer taps their card or mobile device against the POS system, their account information and other relevant data are transmitted to the computer and used to process the payment using near-field communication.

Person using a contactless payment method.

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Advantages of an NFC Payment Terminal

NFC and contactless payments are becoming the standard in the payment processing industry because they offer more convenience and security. Rather than having to swipe their card or hold it in place while the terminal reads their card, you tap it against the reader and proceed with your business.

With the rise in popularity of NFC and contactless payments, many consumers rely on this method, and you may miss out on business if you need a way to process transactions. An NFC payment terminal can help you keep up with the latest technological developments and keep your customer data safe. Contactless payment is safer than many other transaction methods because it relies on cryptographic codes that are more difficult for hackers to access.

Who Should Consider an NFC Payment Terminal

Any business wanting to reach the maximum number of customers possible should consider accepting NFC and contactless payments. It’s the technology preferred by most financial institutions because of its security, and you must offer this option to retain customers. Contact Group ISO today and keep your business up to date with the latest trends in payment processing technology with an NFC payment terminal.

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