The Future of Shopping: How NFC Payments and Multi-Purpose Tap Will Revolutionise Transactions

Imagine walking into a shop, grabbing your items and heading to the checkout. You tap your phone, and your payment is processed, your ID is verified for that bottle of wine, your loyalty points are added, and a digital receipt is sent to your inbox. 

Just one tap sorts everything for you. 
 

Sounds like something from the future, right? Well, thanks to developing NFC (Near Field Communication) technology, this scenario could be closer than you think… 
 

What are NFC payments?

NFC (Near Field Communication) payments make transactions a seamless and contactless process. Data can be transferred between devices a few centimeters apart. Think of contactless cards or smartphones and smartwatches with apps like Apple Pay and Google Pay. Users simply tap or hold their device near a payment terminal. 
 

This method eliminates the need for physical cards or cash. The booming NFC market is projected to reach over $33 billion by 2030. This technology is already a game-changer - but what if it could do more than just payments?

The Magic Potential of Multi-Purpose Tap

With a new concept called “Multi-Purpose Tap”, NFC payment technology could change our shopping experience. Picture a world where a single tap with your Apple Wallet or Google Pay can handle multiple tasks at once. No more carrying around loyalty cards, remembering your ID or printing paper receipts. Everything you need is done in one simple motion. 
 

Why Multi-Purpose Tap Matters

1. Simplicity: Advances in technology should simplify our modern lives. With Multi-Purpose Tap, your phone or smartwatch is the only super-tool you need for shopping. Pay for your items, collect loyalty points, verify your age for restricted items, and receive a digital receipt, all at once.
   
    
2. Eco-Friendly: Think of the trees! By eliminating paper receipts and physical loyalty cards, we can reduce waste and contribute to a more sustainable planet.
   
    
3. Efficiency: No more fumbling through wallets or apps, or risking missing out on member prices. This streamlined process means faster checkouts and a frictionless shopping experience for everyone.
    

When will it happen?

The NFC Forum oversees the NFC standard. This organisation includes board members from tech giants like Apple and Google. They shape the future of NFC technology. Their decisions directly impact features like Apple Pay and Google Wallet. Multi-purpose tapping is part of a detailed road map that is currently in the market requirements assessment stage. So, it isn’t just a dream - it’s a likely future. 

Card Linking: The Best We Have Right Now

While we wait for Multi-Purpose Tap to become a reality, card linking is currently our best technology for seamless shopping and loyalty integration. But what is card linking, and why is it so great?

1. Automatic Rewards: With card linking, your credit or debit card is linked to a merchant's loyalty program. When you shop, rewards like points or cashback are automatically added to your account—no extra steps needed.
   
    
2. Real-Time Data: Card linking provides instant access to transaction data, offering businesses valuable insights into customer behavior. This means better, more personalised offers.
   
    
3. Enhanced Security: Using PCI compliance and card tokenisation, card linking ensures that transaction data is safe and secure.
   
    
4. Increased Engagement: By making it easier to earn rewards, card linking boosts participation in loyalty programs and helps businesses retain customers.
   
    
5. Versatility: Card-linked offers can be used across various industries and loyalty solutions, from points and gifts to personalised offers or cashback.
   
    
6. Mobile Wallet Compatibility: Many card-linking systems work with mobile payment apps like Apple Pay or Google Pay, adding that extra layer of convenience.