Business Strategies for Increasing NFC Payment Adoption among Merchants
Author(s): Abhijith Vijayakumar Binsu
Publication #: 2501007
Date of Publication: 14.11.2021
Country: USA
Pages: 1-8
Published In: Volume 7 Issue 6 November-2021
DOI: https://doi.org/10.5281/zenodo.14598665
Abstract
This paper investigates the factors influencing the adoption of Near-Field Communication (NFC) payment systems among merchants, focusing on challenges such as cost, complexity, and resistance to change. It analyzes current adoption trends, examines merchant and consumer perspectives, and explores the role of policy and regulation. The paper identifies key strategies for increasing adoption, including providing merchant incentives, conducting consumer education campaigns, fostering strategic partnerships, and ensuring seamless integration of NFC solutions. By addressing these challenges and leveraging emerging opportunities, stakeholders can accelerate the widespread adoption of NFC payments, transforming the way consumers and businesses conduct financial transactions.
Keywords: NFC Payment Adoption, Merchant Adoption, Contactless Payments, Point-of-Sale (POS) Systems, Mobile Payments, Small and Medium Enterprises (SMEs), Payment Technology
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