Near Field Communication

Near Field Communication Technology
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  NFC Payments: Special Report for Computer Weekly Page 1 NFC Payments & Retail Opportunities Introduction This special report for readers of Computer Weekly is based on Juniper Research‟s recent report :    NFC Retail Marketing & Mobile Payments: Business Models & Forecasts 2012-2017  Juniper Research sees mobile payments, along with mobile ticketing and mobile coupons as one of the most important mobile applications driving the mCommerce market today. Applications which incorporate NFC benefit from an elegance and simplicity for the user which it is difficult for other mobile technologies and channels, e.g. SMS or barcodes, to emulate. NFC applications can be invoked by a simple physical tap, rather than the need to open up a mobile application. Additionally, the degree of accuracy in determining the mobile user‟s position is far greater using NFC than GPS, especially inside buildings or in streets in built-up areas, providing a level of assurance and greater accuracy in targeting for the srcinator. In fact one vendor we spoke to characterised NFC as “barcodes on steroids”.  Whilst the application of NFC technology adds to the momentum of mobile commerce applications generally, the NFC dimension has brought with it a degree of complexity which has tended to offset the natural elegance of NFC interactions. There is no doubt, however, that the enthusiasm for NFC payments is growing. This report aims to provide an understanding of the primary trends which can be discerned within the rapidly-developing NFC marketplace, together with an overview of the primary drivers which are serving to enhance growth prospects and the constraints which threaten to inhibit them. It also includes a discussion on the prevalent (and emerging) business models, together with top-line regional forecasts for the NFC Retail Payments market.  NFC Payments: Special Report for Computer Weekly Page 2 The following figure summarises the trends, drivers and constraints highlighted in this report. Figure 1: NFC Payment Trends, Drivers & Constraints Source: Juniper Research NFC’s Pivotal Role in Retail Of particular importance for the growth of NFC, Juniper Research believes that the mobile device has a central role to play as customers shop at supermarkets, stores and other retail „bricks and mortar‟ locations. The explosion of smartphones, the growth of the mobile web, the availability of high-speed mobile broadband networks, and the ever-growing usage of SMS are all offering retailers, brands and merchants new opportunities to communicate with customers and potential customers, and to offer the ability for them to shop by mobile. Major household brands, retailers and top tier MNOs are launching mobile marketing campaigns and extending existing campaigns. They are all seeing the promise of the mobile as a retail tool and the potential for targeted, more cost effective campaigns. The involvement of the mobile device in the shopping experience begins well before the purchase transaction and continues through the in-store experience and then beyond. Mobile therefore plays a pivotal role in both customer acquisition and customer retention. The integration of the mobile device onto the retail shopping journey is mapped below.  NFC Payments: Special Report for Computer Weekly Page 3 Figure 2: The Mobile Device in the Retail Customer Journey Source: Juniper Research Key Trends in the NFC Marketplace NFC Handset Market Growth To assess industry views, Juniper Research conducted a wide range of interviews with players across the NFC ecosystem. Almost all interviewees concluded that over the past year the constraint most blamed for holding back the market, the lack of natively-enabled NFC handsets, was no longer an issue. One or two interviewees, notably those with more of an emerging markets focus, still saw handset availability as a constraint and felt that we are still a long way from mass market, but the consensus was still that, at last, we are “on the way”.   In Juniper Research‟s view, the announcement of more and more mobile phones with NFC appears to be stimulating public awareness of the technology together with a consequent desire to know what NFC can do. This situation may be the beginnings of a virtuous circle being put in place which, providing the user experience does not disappoint, will lead to mass market adoption within a few years particularly in developed countries. NFC Technology Solution Maturity NFC as a technology is now some ten years old but it has taken this time for it to reach a position whereby the standards are in place to create a solution accommodating the requirements of all the participants in the NFC payments ecosystem. Without exception the vendors interviewed for this research have quoted these standards as the basis for their solutions and paid tribute to the standards work in enabling the necessary interoperability between system components, whether on the telecommunications or commerce side. Marketing & Awareness Campaigns: Advertising, Search, Product Info & Discovery, Browsing Shopping in Store: Pre purchase: Price comparisons, Stock availability, Product reviewsAt POS: Shopping cart, Coupons, Promotions, Gift Vouchers, Payment/Wallet, Receipt, Loyalty CRM Post Purchase: Personalised Offers, Loyalty Management & Rewards, Customer service messages Customer acquisitionCustomer retention
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