Financial software company Intuit is showcasing a concept demonstration at the Google I/O developers conference in California this week that reimagines its GoPayment mobile credit card processing application using near field communication.
A video produced by Intuit shows how a small business owner could add an item to inventory by simply tapping their NFC phone against a product that carried an NFC tag. Information about the product would then automatically appear in the mobile payment application on the retailer's NFC phone and they could then process a payment for the item using NFC's peer-to-peer capabilities:
The result is a faster, easier and more secure way to conduct business without the need for a physical credit card or credit card reader, says Intuit.
"Leveraging emerging mobile technology such as NFC, small businesses and their customers may one day soon be able to conduct a myriad of daily tasks on their mobile devices — including paying and getting paid — faster, easier and more securely," the company explains. "All they will need is their mobile device and nothing else."
"With GoPayment we are exploring every avenue for innovation that best meets our customers' needs, and this includes technologies such as NFC that are still in the early stages of adoption," says Chris Hylen, vice president and general manager of Intuit's Payment Solutions division. "Innovation is happening rapidly in the mobile payment space and we want to be ready to help the millions of small businesses and consumers we serve benefit from the latest technology."
While the NFC integration with GoPayment is still in concept phase, Intuit says it is "working to incorporate the technology as a feature in the offering in the near future."