NFC payments are contactless payments that use near-field communication technology, allowing devices like a mobile phone and a payment terminal to communicate securely with each other. This technology powers mobile wallet payments such as Apple Pay, Google Pay and Samsung Pay and payment cards that you can tap to pay.

NFC payments are widely used because they are contactless, encrypted, and highly secure and can help speed up the checkout process. To accept these payment types, you need a specialized card reader. However, due to contactless payment popularity and increased adoption rates because of the COVID-19 pandemic, most merchant accounts offer NFC readers. However, in Uganda not so many companies have adopted this technology. Stanbic Bank Uganda, Pesapa and ABSA are among the companies that have embedded NFC in their Payment Cards.

For stanbic bank customers who have currently applied for a new card, renewed or replaced their existing cards will receive the contactless Visa cards that will be accepted locally at all merchant outlets accepting contactless payments including retail stores, fast food restaurants, convenience stores and Point of Sales machines globally with a Visa contactless functionality. Stanbic Bank is enabling this payment capability for customers across 15 countries.

Why Should we adopt NFC Payments In Uganda

Convenience and ease of use
Consumer expectations for convenience are always on the rise. In almost any situation consumers will typically flock to the fastest, easiest and most convenient option. Near field communications make payment transactions easy, as consumers often only need to hold up their phones or their NFC cards to make a payment.

Improved operational efficiency
Near field communication allows for faster transactions which cuts down on the amount of time customers have to wait in line as well as time spent at the register. NFC helps speed up checkout lines, increasing customer satisfaction with your business. Near field communication means less time per transaction. That represents a critical operational efficiency for businesses that turn a high volume of transactions at checkout. Happier customers and more efficient operations are measured in the bottom lines of businesses everywhere.

Ease of implementation
Near field communication technology is easy to implement. You’ll need NFC-enabled payment terminals, like credit card terminals or integrated point of sale systems. Fortunately, most new payment acceptance equipment sold today or in the recent past already contains near field communication technology built in. Setup is simple and quick. Like anything regarding payments, you’ll want to work closely with your payment processor to make sure you’ve configured your equipment properly and your payment acceptance is set up to accept both contactless cards and mobile wallets. When you work with a leading payment partner like Worldpay, that part is easy, too.

Enhanced security
If you’re wondering about the security of near field communications, that’s understandable. Maintaining the trust of your customers depends on providing safe transmission for their payments and any data related to payment transactions. The security of near field communication technology starts with “near”—NFC signals only transmit data centimeters from the NFC device, like a payment terminal. Unlike wireless internet technology, near field communication signals can’t be hacked from across town, across the street or even across the room.

Security protections afforded by smartphones make NFC payments even more secure. In addition to the protections from tokenization of private and personally-identifying data, smartphones add an additional layer of personal authentication, like passwords and biometric security. All of this additional security is layered on top of existing fraud filters and other security measures.