How to Pay Contactless (NFC) technology

Contactless (NFC) technology

Rapid development of infrastructure of contactless terminals, payment with contactless cards is becoming increasingly popular. At the same time, solutions such as Google Pay and Apple Pay enabled cards virtualization, as well as access to this service in the White Label wallet by Wallet Factory. Let your customers pay in a single touch using your mobile wallet.

How it works

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We integrate Mobile Wallet with your bank or your partner banks
The bank must be integrated with Google Pay and Apple Pay
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Customers can manage their cards in the mobile wallet and review the balance as well as transaction history. In the mobile wallet, the customers can visualize (tokenize) their cards for making contactless payments using a mobile wallet. They should have a Google Pay or Apple Pay app on their smartphones. Tokenization occurs in the application even without its opening
To perform a transaction, you only have to unlock the smartphone and bring it closer to a touch contactless terminal
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Advantages of NFC technology

Simplicity and speed
Any transaction completed within few seconds (tap and go)
Security
Smartphone NFC payments are even more secure than payments using a bank card
Infrastructure
Majority of countries have a full infrastructure for touch-less payments and developing it for of Visa and Mastercard

Industrial of NFC technology use cases

1
Supermarket
Most supermarkets already accept contactless payments, it's fast and convenient
2
Transportation
What can be more convenient when boarding public transportation than Tap and Go?
3
Public event, festival, show
When many people required quick payment, the best solution is NFC

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NFC technology description

The NFC is a technology for wire-free data operation at a small distance: the connection radius does not exceed 10 cm. Information from objects is read by means of a radio signal. The start of NFC technology development dates back to 1983. At that point in time, the electrical engineer Charles Welton received a patent for portable radio frequency emitter-identifier. Almost 20 years later, in March 2004, some companies held the specialized forum. In 2006, the first commercially-intended phone with an NFC chip was released – Nokia 6131. Eventually, such technology has reached its golden age and today has become one of the most widespread all over the world. Today a lot of mobile items have such feature and it’s easy to find out this due to the Settings option choosing.

The main advantages of NFC technology are:

  • Speed of info conveyance among objects.
  • Small size of the device.
  • Low energy cost.

Thanks to these features, NFC sensors can be integrated into even small gadgets. The datum transfer rate via this communication channel is quite low, and the data volume is small. Despite this, the NFC technology in mobile is multifunctional and convenient. If you master the simple technology and install the necessary app, a smartphone with a specified option will simplify many everyday processes.

File transfer became possible after Google announced Android 4.0 Ice Cream Sandwich, in which the Android Beam application/feature debuted. Moreover, the device’s support for named technology allows it to read or write programmable NFC tags. In order to make the signal stable, an NFC chip is installed under the rear panel of the cell. But since far from all smartphones are collapsible, it is easiest to check the support of the NFC payment solutions by the software. Moreover, the payment made via NFC platform is processed much faster (despite the purchase’s price) than using a standard bank card. It’s important to mention that if the connection is established, the devices will vibrate and beep. Do not share smartphones until the content transfer is complete. The device will produce sounds when the file transfer is completed.

NFC payment: a good choice for development

The introduction of NFC technology in an electronic wallet brings many positive and useful moments to business development. The Wallet Factory Company presents a special product (white label), which can be regarded as much more, than just a simple digital wallet. It increases the convenience and speed of payment, is able to work correctly with all the popular today telephone systems/devices, and provides for safe NFC and mobile payments.

The ease and simplicity of making payments are recognized as one of the main factors for private sectors, which designates the desire of consumers to spend more on individual transactions. Among very serious advantages of NFC payment is that the payment method takes 15 seconds or less compared to a chip card and PIN, which can take more than 30 seconds. This means fewer queues and more transactions per unit of time that also helps to provide quality service. NFC mobile payment is economical and easy to implement thanks to the NFC mobile payment apps and cash registers capable of accepting contactless transactions, which also means higher profits for the business. This is especially important for small enterprises, which are often forced to work in conditions of minimal profit. Due to the NFC online payment accepting, they expand the potential and provide their long-term growth.

Earlier, NFC chips were mainly in expensive flagship devices. Later, with the spread of technology, near-field modules began to be implemented in the mid-budget segment. Nowadays, even some low-cost smartphones are equipped with such elements. It is likely that in the future all the portable devices will be equipped with the above-named module.

NFC wallet app – our white label solution

The white label is a reliable NFC wallet that not only performs mentioned earlier functions but also presents to every person an opportunity to add cards of different banks in the memory of one smartphone in order to pay for travel in public transport. The matter of course of NFC digital wallet operation is the same. There you can bring all the options for client cards: bonus, discount, and gifts. To issue a payment card, you do not need to go to the bank and conclude an agreement. Everything can be done in a few minutes directly through the smartphone. All the wallet app NFC data is protected at least by a payment password, and you can also set a catchword to unlock the smartphone.

White label solution has the following advantages:

  • It’s very convenient to pay for purchases with the NFC wallet apps. Why? Because to effect payment is more agile than getting a card, especially if you have several ones. Payment via gadgets is possible in many trading terminals.
  • It’s safe to use an NFC wallet agent because mobile payments are protected. The card’s information isn’t used in the process of payment: tokens are transferred instead. A token is a combination of 16 digits that is bounded to a specific card number and is generated for a handy communication item. If the attacker intercepts the ciphered information during the calculations (that is highly doubtful), he/she won’t be able to use it. In addition, wire-free payment requires confirmation via fingerprint reading, password, or face scan. Without all this, a purchase cannot be made. So, even if the smartphone is stolen, no one can use it as a payment tool. Moreover, the billing information won’t be transmitted to the wrong person. Card details are not available to the cashier at the bank, the seller in the store, or the waiter in the cafe.
  • The versatility is also a very serious plus of the NFC and payment apps because unlike Bluetooth, mentioned technology collates with contactless solutions and RFID structures. Besides, it can work even if one of the plug-to-plug units is not equipped with a power source (in particular, a switched off telephone).
  • The technology develops and the Wallet Factory Company implements new opportunities, new protection levels, and wide possibilities for businesses and clients.

NFC app development: the task for professionals

NFC app development has to be performed by serious companies because such a process requires deep technological knowledge and high professionalism of specialists. Intrinsically, the NFC chip is essentially an antenna. This is an inductor that creates some RF field and acts on another same field according to a given scenario with a different encoding level. There are always two elements involved in such a process (as it was written earlier).

The e-wallet with NFC software can work correctly only after a code creating and the features of the software of each device reviewing. The company focuses on universality; therefore its product is ideally suited for cellphones and fully reveals the possibilities of the module. No more funds will be withdrawn from the card than the purchase price because the Wallet Factory is one of the NFC app development companies, which pays great attention to the importance of decent soft creating, optimization, and security in payments.

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