Small Businesses In Valencia Set To Launch NFC Currency

Small businesses in the Russafa district are set to launch an NFC currency in Valencia that will operate as a loyalty and rewards program, reported NFC World. The solution will use NFC capabilities to transfer "Orues" between accounts on NFC phones or NFC cards.

Customers who register for the Orue service will be required to pay an annual fee of 10 euros. In exchange for signing up, users will be given a 10 Orue credit on their account along with an NFC card. The card will be used for identification purposes and will also be used to make and accept Orue payments.

"In relation to business to consumer, the Orué currency works as a system of loyalty, discounts and promotions and interaction can be done from one smartphone to another smartphone or from a smartphone to an NFC card," Enric Montesa, the Russafa resident leading the initiative, told NFC World.

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