The use of NFC payment beacons at store checkouts increased the share of payments via Fast Payment System (FPS) from 15% to 19%, that is, by almost a third. Delobank analysts reached these conclusions based on the results of a study among entrepreneurs and organizations using this tool (available from socialbites.ca).
Entrepreneurs surveyed reported that the increase in conversion to SBP was driven by three main factors. The first is that the NFC plate allows you to accept payments not only using the QR code, but also by tapping your phone. This is perceived by customers as a more convenient option.
The second factor is that to pay using a QR code today, you must either print the code or turn the terminal to display the code correctly to the customer. This is not always appropriate. NFC tag eliminates these difficulties.
Finally, the payment sign attracts attention, which makes it stand out in the payment area.
According to a recent study, 34.2% of buyers are aware of NFC tags, have used them to pay for purchases, and know the convenience of this method.
“The winners are the entrepreneurs who not only put a payment sign on the terminal, but also encourage their sellers to tell customers about it and show them how to pay. Delobank Director Irina Kuzmina stated that their income increased and their expenses related to bank commissions decreased significantly.
NFC chip payment beacons appeared in Russia last year. Since the beginning of 2022, more than 1.1 thousand such signs have been installed in the country.
Near Field Communication (NFC) technology allows you to exchange data between devices at a distance of 2-20 cm, for example, between a smartphone and a payment terminal in a retail outlet or cafe.
Previously at Delobank saidAlmost 85% of Russians have tried to pay for their purchases using a QR code.