A Framework for Smart Retailing and NFC Mobile Payment Services

ABSTRACT

Internet of things is an emerging area in the field of Information Systems and Artificial Intelligence. This paper is attempting to integrate internet of things with the virtual mobile payment services via near field communication. In retail purchasing, IoT could be of a great way of minimizing the time taken at the billing counter as well as for the payment. Therefore this study provides a framework where IoT works in coordination with NFC to provide a set of smart device which would help the retailers manage billing and payment. It can also be extended to the inventory management and to have a record of the products being sold based on location and, frame strategies and promotional activities based on sales in each group. The contributions of the study help managers to develop strategies, perform market segmentation, enable e-shopping cart, less consumption of time, less manpower requirement.