NFC Payment: What is NFC Payments Mobile APPs Transaction and How NFC Works?

NFC payments: All you need to know about this contactless payment solution

By Vinisha Kataria | June 04, 2021

Vinisha is the Digital Content Manager at Pine Labs and brings with her, more than 10 years of professional experience.

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The ongoing pandemic has propelled contactless payments into the spotlight. While the Indian economy is still dominated by cash, the shift from cash to digital payments is happening gradually. Since a contactless payment requires no physical contact and is relatively quicker, it is becoming a preferred mode of payment mainly for convenience and hygiene factors. Some popular means of contactless payments such as digital wallets and QR payments have already gathered steam, but...

What are NFC payments?

NFC is an acronym for Near-Field Communication. This technology allows devices to transfer data wirelessly much like the good old Bluetooth technology that you would have been already using. Unlike Bluetooth devices, NFC doesn't require manual syncing or device discovery.

Typically, NFC payments work when the NFC-enabled device is within four inches of the payment device or terminal and therefore a secure payment mode. NFC mobile payments enable the acceptance of contactless 'tap and pay' payments via contactless cards.

The evolving landscape of payment technology, RBI's decision to increase the per transaction limit in contactless card transactions to INR 5,000 and a shift in consumer behaviour amidst the pandemic are all key factors that have provided the much-needed impetus to NFC payments in India. As consumers gear up for making payments via their mobile phones, what's stopping merchants and businesses like you from accepting NFC-based tap and pay card payments from a smartphone? You need a solution and we have it for you.

Pine Labs has always been at the forefront of pioneering fintech products and accelerating digital payments adoption in India. The rollout of Pine Labs AllTap is a testament to the efforts of digital inclusivity it aims to bring to the nook and corner of India. While all Pine Labs PoS devices accept contactless payments, this new mobile payment app is a gamechanger. It is a simple solution for small businesses, solopreneurs, home entrepreneurs, cab drivers, and many other sections of the society who were untouched by the ongoing digital payments revolution in the country. For 63 million MSMEs in India, this app opens new possibilities to grow and digitise their business. With AllTap, small businesses that didn't want to invest in a PoS machine for cost reasons can now turn their smartphone into a payment acceptance device.

What makes Pine Labs AllTap a gold standard in contactless payments?

This revolutionary mobile payment app is a one-stop app to receive multiple payment modes, including digital wallets, QR, UPI, Tap and Pay debit and credit card payments. Now door-to-door delivery staff of any business can accept link-based payments by just using their Android mobile phone and the AllTap app. However, there's more to it!

  • 100 per cent digital onboarding
  • Single reconciliation for multiple modes of payments
  • In-built #PayLater EMIs
  • Minimum documentation
  • Free to download

Are NFC payments secure?

You bet, they are! The tap and pay card payments of the AllTap app are completely secure. Our PCI SSC-CPoC listing for AllTap underwent an extensive audit and certification process from PCI SSC and leading payment networkd like RuPay, Visa, Mastercard and Amex. The three security layers of NFC payment are:

1. Since NFC works over a shorter distance range, one needs to be too close to the NFC-enabled smartphone to steal the information, making it a secure transaction method.

2. Your customers need to initiate the payment process by waving their contactless card within the NFC area of your smartphone.

3. Unless you validate the purchase on your smartphone, payment can't be processed.

How to check if your smartphone is NFC-enabled?

NFC technology is gradually becoming a common feature in smartphones.

Why should you download AllTap right away?

AllTap is one app for all payments! With this app, you don't have to turn a customer away for not having a digital payments acceptance interface. The integrated Pay Later feature on AllTap is just what you need to drive sales as it can transform your customer's small shopping carts into big-ticket purchases.

Tap into the world of possibilities with Pine Labs AllTap. With no upfront investment in additional hardware, digital onboarding that requires a few minutes, there is no reason why you should hold back from downloading AllTap and get started!

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If you have any questions, queries or need any help, please feel free to call on our AllTap helpline number- 0120-4033603 or email us at contactus.alltap@pinelabs.com