Put Your Money Where Your Mobile Is

Keep your eye on your wallet - it's going the way of landlines and lickable stamps. And behind the demise?…

Your mobile phone. It’s all about Near Field Communications, NFC for short. Bump or touch an NFC-enabled phone, tied to your credit card, PayPal or Google Wallet account, with another NFC device and you can make a secure payment for a wide range of products or services on the spot. Even non-monetary uses—like replacing a building access card or split-second sharing of contact information—are on the rise.


NFC also delivers companies more comprehensive consumer information than ever before. Each tap produces a complete consumer profile and behavioral pattern, including whether or not they purchased the item they viewed. This kind of insight will allow you to create optimized consumer-specific promotions and pricing...but let’s not get ahead of ourselves.


TOP PLACES USING NFC ASAP

Here are our predictions for how NFC might impact your world in 2012:

  •     Travel and tourism. Cab fares paid with a tap. Check in to your hotel with a phone, and use it as your room key, too. Zip around the city on the metro (no metro card needed). Redeem tickets to a local art gallery and use your phone to access bonus material.

 

  •     Retail. Say goodbye to long checkout lines, loyalty and gift cards and printed coupons. Say hello to reduced staffing, increased productivity, a better customer experience and increased consumer intelligence.

 

  •     Watch for new companies to sprout out of the NFC sphere, including analytics companies and devices that can be activated through NFC tags, like speakers, light fixtures and alarm clocks.

About the Author: Alexandra Watson is the Digital Director at Launch Agency. She also teaches on digital marketing topics as an Adjunct Professor at Southern Methodist University. In her spare time, she enjoys spending time with her teenage daughters and adding photos to her Pinterest boards.