For years, analysts have been predicting a revolution in payments technology. "Soon, you will be able to pay for drinks at a vending machine using your cell phone!" Well, the future â€" whether your smartphone, Google Wallet or near field communication (NFC) â€" is here, along with a number of challenges we aren't prepared for.
These new systems can potentially enhance the consumer experience, expedite transaction speeds and provide your store with additional platforms to market your products and services. But before these benefits can be realized, we have to be ready.
For example, are your dispensers and point-of-sale systems ready for NFC technology? Will you be able to satisfy data security requirements if you accept this form of payment? How long will you have to upgrade your systems before you start losing customers?
There are a variety of other issues that device manufacturers have to resolve before we see wide-scale introduction of these new payment systems, but we have to start laying the foundation for them now. Fortunately, one group has been spending a lot of time on this technology breakthrough â€" PCATS.
PCATS has been working on the application process for mobile payments technology for several years in an effort to stay ahead of the curve, provide retailers with guidance to capitalize on the technology's potential and to standardize a system that will allow convenience and fuel retailers to provide their customers with the best service possible.
This is just one of the many projects that PCATS is tackling on your behalf. The future is coming â€" and PCATS is paving the way. That is why I serve on the board, and that is why you should be involved.
John Eichberger
NACS
Vice President of Government Relations