This is far from being just a marketer's dream, as SAP has created a smart vending machine that allows users to make payments through an NFC link and social profile. Consumers simply tap their smartphone against a receiver on the machine. This actives the machine, which in turn pulls the customer information from the cloud. Funds are taken from a preselected account and the video screen provides information like last purchased items and customized special offers. … more
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For the last few years, the use of Near Field Communication (NFC) technology in the payment world has been the "next big thing." However, you are more likely to use the chip to send pictures between smartphones or connect a device to a third party peripheral. The question then becomes, why have payments and NFC not been joined in a partnership yet?
A recent article from the Calgary Herald examined the current landscape of NFC technology and attempted to answer this question. According to the news source, the problem is not the technology, but rather the system or solutions around it.
"It starts with the banks and credit companies that need to invest in the new opportunity and bridge consumers and merchants by offering a secure and standard payment system," the article reads. … more
A recent article from Search Security features an interview with two members of the council, Bob Russo and Troy Leach. According to Leach, one of the hottest topics during the meetings has been EMV technology. An entire session was spent just on this area.
"As EMV migrates to the U.S. market, we're going to see a significant shift in fraud, away from face-to-face retail transactions," Leach said. "EMV is a phenomenal … more
The idea of stepping up to the register, placing an order and tapping your smartphone to an NFC receiver to make a payment is gaining steam in the minds of many merchants. While they may not have plans to roll out a particular system right now, many are watching their industries to see what companies are, and the results of their efforts. For the fast casual eatery industry, all eyes are on McDonald's.
According to a recent report from Nation's Restaurant News, McDonald's is in the process of testing mobile payment devices. In a written statement to the news source, the company did acknowledge that these trials are taking place in Salt Lake City, Utah and Austin, Texas. However, the statement also said it is far too early to speculate as to any future decisions on using … more