Benefits for Merchants

Operational efficiencies

Some of the efficiencies for merchants are described in these examples

Tableside checkout
Drive through enhancements
Voice Command

Considerable time is saved as consumers no longer have to tap “debit” or “credit”. Reduced checkout time means more customers per hour.

Cost reductions

Operating costs are reduced as communication sessions can be cut up to half to fully process a single charge. Allowing consumers to prepare orders in advance, communicate them without distortion, and provide payment information all in one scan reduces order process time significantly. See examples cited above.

Risk costs are reduced by removing the treasure trove of retained charge card information.

Capital costs are reduced as only a smart phone with a camera and software are required. No additional RFID, NFC or network hardware is required.

Advanced Capabilities / New Revenue Streams

NC3 has several methods to allow merchants who never thought of themselves as charge merchants, such as utility providers and universities, to use NC3 to collect their fees. See the example for P2M-Electric. Repetitive charges can be handled in the same secure manner.

Consumers need not pay with credit, NC3 provides for secure access to consumer-defined checking, savings, MMA or other accounts capable of ACH transactions.

Embarrassment Avoidance

Don’t be the merchant who has to proclaim “your security is important to us.” That sounds like “your call is important to us.” while you are on hold. After the umpteenth time it is like salt in the wound, irritating. Sort of like calling tech support for your internet service provider and being told over and over, you can get help at www-something or else when you can’t connect at all! With breaches and exposures becoming all too common even a single announcement from a merchant is not the first announcement to the consumer. Nor the second, nor the third …

Perhaps the merchant’s conditioned response is to move the spin doctors into high gear and hope the consumers are less informed. Consumers may have been before, but are better and more informed each day. Some translations of common phrases (ex: “We have retained one of the world’s leading cybersecurity firms to assist us in our investigation”) were provided by naked security from Sophos.

Want More?

Communicate with your provider and tell them you want NC3.