Near field communication smartphones allow consumers to make secure, speedy purchases by placing their handsets within four inches of any NFC-reading device. Yet, widespread adoption of NFC payment technology in the U.S. has proved elusive. Despite the lag, Todd Ablowitz, a mobile-payment consultant and president of Double Diamond Group in Centennial, Colo., predicts that the infrastructure needed to support mass adoption of the technology is about to reach critical mass.

“Why should businesses care about NFC technology? If you’re in any kind of face-to-face environment, like retail, or services, you’re going to see a gradual trend towards people paying by tapping their phones,” Ablowitz says.

Major credit-card companies have already ensured NFC technology will be backward-compatible with existing contactless cart systems currently in the market, Ablowitz says. “So now all the readers that are in the market will work with those — whether it’s a MasterCard or a Visa or American Express or Discover — all four brands.”

blog.gopayment.com, October 26, 2011
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