The senior director of financial services for Best Buy, the largest consumer electronics chain in the United States, said she believes NFC holds great promise but fears costs will be daunting, standards are insufficient and the chain’s customer data might be used to benefit competitors.
Stephanie Swain, speaking at the recent NFC Payments USA conference in Miami, noted that Best Buy already accepts contactless payment from cards and stickers in its 1,100 big box stores, “so we do see the potential and are really excited about what NFC would bring.”
But Swain fears it could cost the chain plenty to upgrade terminals to accept NFC-based offers, despite the retailer having equipped the 1,100 stores to accept contactless payment from cards not long ago.