one sector looking for growth influences NFC space

In many places, including Ireland, one sector looking for growth influences NFC space. New NFC-enabled debit cards are already being issued once the hardware is available in retail units, these could get to be the primary way of purchasing smaller value items, typically as much as %u20AC15. It is a new technology for small retail businesses but is at their favour as it will decrease the costs of handling cash and really should also increase payments at checkouts. Authentication is generally not essential this also accelerates the payment process. For that reason this technology might be a popular mobile payments model. However, just how well it takes off will likely depend upon the charging model. Consumers covers convenience but also in cash-strapped economic downturn, when the charge is just too high cash it is king.
Many small businesses have traditionally found the overheads of taking card payments prohibitive however, this model provides them entry to card payments and this will have a significant positive effect on their flow. The opportunity to take card payments in any location removes the attachment to customers having cash or cheques. What’s more, it removes the overhead in following up on unpaid invoices, itself a pricey exercise for most small businesses.

Leave a Reply