Back in March, I blogged about how the push for Near-Field Communication (NFC) technology in the retail space could quite possibly transform the future of mobile commerce. Since then, there have been some exciting new developments that appear to be ushering in a new reality.
One of the most notable developments gathering a lot of attention is the introduction of the Google Wallet—a mobile app that is currently being tested. The entrance of the web giant is expected to provide new opportunities for retailers to extend coupons and loyalty programs to their customers.
Even though, by many accounts, NFC technology seems to be more than just a passing trend, many of the retailers we speak to still seem reluctant to make any hasty changes. While it’s true that those who invested in NFC technology 3-5 years ago may have eaten the costs due to new technology developments, I don’t believe that will be the case this time around. In my opinion, any efforts backed by credit card processers and companies like Google to bridge the gap between online and offline commerce are likely to come sooner rather than later.
For retailers looking to stay ahead of the curve in this new retail market, I would suggest that NFC readers be seriously considered when deploying new pin entry devices (PED). Because there can be significant costs involved in retrofitting PED hardware with NFC technology, I would highly recommend that, at the very minimum, the ability to easily upgrade should be locked in to any new deployment.
So, we want to know: What do you think of the latest developments in mobile payment solutions? Are you looking forward to using the Google Wallet app, or are you apprehensive about the market entry of “mobile wallets”? We invite you to weigh in and take the LI poll below. Afterward, join our LinkedIn group, Retail tekSPERTS and tell us about it! We’re always online, so if you’d rather just stay up-to-date on the latest developments in retail/hospitality technology, you can always follow us on Twitter @tekservePOS or connect with us on Facebook.
John Pruban, President, tekservePOS
