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Accepting NFC Payments

Get ready for NFC contactless transactions in your store

Understanding NFC and Accepting NFC Payments

NFC (near field communication) is a short-range wireless (RF) style technology that is starting to come installed in the latest smartphones. The technology itself is fairly straightforward. It provides a short-range radio signal with small bits of data between two devices held close together that both have NFC chips. Unlike Bluetooth, there is no pairing process involved. Just hold the smartphone within a few centimeters of the other device and the data is sent. This form of contactless payment could include anything from displaying a commuter card to paying for a purchase.

The Importance of NFC technology

Now that NFC technology can be found in many smartphones, near field communication is more relevant than ever. When a business decides to incorporate NFC into their merchant services account, the opportunity is there to increase sales by providing an additional form of convenient payment. By 2018, mobile proximity payments in the US, which include payments made using a phone to make a physical transaction at the point of sale, will reach $118 billion, up from $3.5 billion in 2014, according to eMarketer.

When it comes to security NFC often establishes an encrypted security channel and when sending private data like credit card numbers. By using private channels to transmit payment data, information is secure and can only be read and received by authorized devices that are set to decode the payment. There are some who feel that NFC technology is more secure than credit cards. If an individual's credit card is stolen, it is easy to use that card to make fraudulent purchases. If an individual loses their smartphone and it is password protected, as most people do today, the thief cannot access any private information. By taking advantage of the data encryption and secure channels NFC technology provides, consumers can make purchases quickly and securely.

Accepting NFC Payments

Get ready for NFC contactless transactions in your store

NFC (or, Near Field Communications) is simply another type of contactless payment. They are not very different than the way businesses normally accept credit cards, but NFC payments may offer increased security features and convenience for customers.

Chase has terminals available today that support NFC payments. With our Future Proof terminal, you will be able to accept new contactless payments, such as mobile wallet technology while still accepting traditional swipe credit cards. Ultimately, this addition to your small business credit card processing will increase the ways for your customers to pay – and increase your sales.

NFC contactless payments are used in multiple types of mobile wallets, including Apple Pay®, Google Pay and Samsung Pay.

Learning more about NFC

All this technology can definitely feel overwhelming. Luckily there are plenty of resources available to learn about NFC technology, HCE, and how it can fit into your business and make payments more convenient for your customers. One reputable resource for more information is They provide in-depth information about the technology behind NFC and how it works in day-to-day life. The Near Field Communication Forum focuses on advances the technical aspects of the technology. Manufacturers, applications developers, financial services institutions, and others all work together to promote the use of NFC technology in consumer electronics, mobile devices, PCs, and more.