Counterfeiting is a global issue, and with trade in fake goods now worth in excess of $500 Billion, it’s also one that is affecting a huge variety of products. Drugs, clothes, cosmetics, luxury items, toys, collectables and wine, the list of goods susceptible to this brand of fraud is seemingly never ending.
Counterfeit products cost companies revenue, and can also be dangerous for public health. So companies pay financially, but may also have to deal with the negative impact to their reputation that these harmful goods can cause – an even higher price in the case of well-known, respected brands.
Realising the need for companies to implement brand protection strategies, Paragon ID have created a solution to this widespread, costly issue, with Near Field Communication (NFC). Using NFC, Paragon ID has created a fool-proof method of authenticating a product, checking its origin and promoting the relationship between a brand and its consumers.
RFID / NFC and Brand protection
Each RFID / NFC chip has a unique international identifier which is impossible to duplicate. A manufacturer - or brand - who chooses to buy RFID product from Paragon ID will be the single, and exclusive, owner of those chips’ numbers.
The chip can then be read with a simple smartphone equipped with NFC technology, or a specific NFC reader. This means that consumers or customs officers can very quickly, and easily, authenticate a product and check it is not a fake. Essentially the Paragon ID-supplied NFC tag/label acts as an electronic certificate of authenticity.
Experts in manufacturing of RFID labels, Paragon ID have mastered the invisible integration of a NFC chip in a label, even the smallest of labels. The chips’ unique numbers are sent via a highly secured and encrypted transfer protocol, which guarantees the security of the data that is being exchanged.
Key Benefits of RFID and NFC
The capability of the RFID chip to store information along with its unique ID allows for quick and accurate product authentication.
Track and trace
With RFID, you have a precise visibility of the products’ journey throughout the supply chain. At any time, you know where it is, where it’s coming from and where it is going. You can also add information to the chip throughout its journey, for even greater accuracy.
If the tag has been damaged, or if it has been tampered with in any way, the chip will stop working. This therefore makes it very easy to detect any fraudulent activity.
Customer relationship management
NFC can bring a much improved customer experience. Using their smartphones customers can identify the product they just bought, access additional information, order complementary items, receive special offers and enjoy a more VIP experience. Brands benefit from enhanced levels of customer engagement and satisfaction which, in turn, positively influences their reputation and revenues.
Counterfeiting affects all sectors. Protect your brand, your products and your customers with NFC. Contact Paragon ID to discuss your project.