Why You Should Sell EMV-Compliant Solutions With NFC Technology
In this Business Solutions exclusive, Jared Isaacman, CEO of Harbortouch, explains why your merchant IT clients selecting EMV-compliant payment solutions need to consider also upgrading to accept payments that use near field communication (NFC) technology. Advising your IT clients to look ahead can help establish you as a knowledgeable business advisor — as well resulting in upsell.
BSM: What benefits will accepting payments with near field communication (NFC) along with EMV offer our readers’ merchant clients?
Isaacman: NFC and EMV both deliver valuable benefits to merchants. First, EMV offers added security over traditional magnetic stripe cards. Starting in October 2015, merchants who do not accept EMV will incur increased liability for certain types of fraudulent transactions. By accepting EMV cards, merchants can help protect their businesses against fraud as well as this liability. Accepting NFC is a way for merchants to future-proof their businesses as more NFC-powered payment types emerge. Apple Pay has already become a popular payment type for many consumers and we are likely to see a growing number of NFC payment solutions on the market. As this trend continues, it will be critical for merchants to have the capability to support these new technologies in order to deliver a positive customer experience.
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