Near Field Communication

Contactless Payments & Transactions

Near Field Communication, also known as NFC, is short-range wireless technology that allows smartphones and similar devices to communicate when they’re within a few inches of each other. This contact-less technology allows consumers to sync their smartphones and other devices with their card information to make contact-less payments. With point-of-sale equipment that supports NFC payments, businesses are able to support contact-less payments with digital wallets.

Digital wallet is a term that refers to an electronic device that allows an individual to make electronic commerce transactions. A person can store a wealth of information in their digital wallet, including their ID, driver’s license, health insurance card and loyalty cards, as well as credit card account data, which can then be used to make purchases at a POS terminal. NFC is the basis for several digital wallets already used, which include Android Pay, Apple Pay, Samsung Pay, and Google Wallet™.

Many major retailers are already NFC capable, and this “tap and go” technology is expected to grow in popularity with U.S. consumers as more retailers and service providers upgrade to processing equipment that can handle both EMV® and NFC transactions.

Transitioning to EMV and NFC technology is simple. Contact Maverick today!

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