According to NearFieldCommunicationsWorld.com, VeriFone announced it will include near field communication technology in all its new point-of-sale (POS) terminals.
Merchants who upgrade their POS terminals through VeriFone will automatically be able to process NFC payments, without having to pay for the technology.
"The retail point of sale represents a point of convergence for smartphone-initiated payments, social networking and electronic couponing, but it won't happen if retailers are expected, on faith, to absorb the costs of making it work," said CEO Douglas G Bergeron.
Bergeron highlighted six keys for the success of mobile commerce:
• Deployment and management of complex NFC technologies will require significant ongoing services from the retailer’s payment systems provider.
• Mobile commerce must add value for the consumer.
• Retailers will want a unified point-of-sale.
• Consumers will only embrace mobile commerce if it is being widely accepted.
• Mobile commerce must be integrated with other forms of payment.
• Mobile commerce must be secure.
Last month, VeriFone got approval for a $485 million merger with Hypercom, the rival POS terminal supplier, and expects to generate $2 billion in revenues per year across the US and Europe.
User Comments