Daily Insight | Nick Holland | September 6, 2012
In a week filled with new releases, Boston-based LevelUp doesn’t want to be left out. The mobile payment company has started releasing new payment terminals with NFC capability.
The new terminals are capable of processing NFC tap transactions according to Venture Beat. The existing QR code system used by LevelUp’s current customers and merchants is also supported by the new device. The new terminal will be the company’s fourth version sine the company was launched and should last about three to five years. Merchants who already belong to LevelUp will be receiving their new, free terminals within the next three months. New merchants who sign up will receive the latest terminal.
Yankee Group Principal Analyst Nick Holland comments
“It is a sensible move for LevelUp to hedge its bets with NFC as well as QR codes. Yankee Group has stated previously that NFC trumps QR codes in terms of speed, convenience and user-friendliness. Where it hits a roadblock, however, is cost, with hardware investment required from merchants and mobile operators. LevelUp is future proofing for a time when handsets using NFC are more widespread, enabling merchants to leverage NFC handsets. This however is likely to be some time off…that is unless Apple decides to tip the balance in favor of NFC by embedding the technology in the iPhone 5. Such a move could accelerate NFC to fruition.”
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