NFC is an acronym for near field communication, a wireless technology that allows devices to talk to each other. In the case of a mobile wallet application, those devices would be a mobile phone and a point of sale device at a checkout counter.
USA Today reports that the number of NFC handsets is set to increase from about 34 million this year to about 80 million next year. Gartner estimates that growth in handsets will exceed 100 million in 2012, and that that 50% of smartphones will have NFC capability by 2015.
The short list of big players, which includes Google, Citibank, MasterCard, Gemalto, First Data, VeriFone, Samsung, Sprint, AT&T, T-Mobile, Verizon and Isis, are all deploying some version of a mobile wallet. Isis’s website promises, “Mobile wallet will eliminate the need to carry cash, credit and debit cards, reward cards, coupons, tickets, and transit passes, fundamentally changing how you shop, pay, and save. All with your phone.” And all powered by NFC.
NFC can also be used to connect online gamers. Within social networking websites, NFC can facilitate the distribution of coupons that can be scanned at in-store terminals.
Soon, we will see online retailers embrace the potential benefits of NFC in order to create effective loyalty programs, supported by online advertising and social media campaigns
With full deployment, near field communication will make every day transactions incredibly convenient. If you think your cell phone is your everything today, wait until you see what’s coming next!
ROBERT SICILIANO, CEO of IDTheftSecurity.com is fiercely committed to informing, educating, and empowering Americans so they can be protected from violence and crime in the physical and virtual worlds. His "tell it like it is" style is sought after by major media outlets, executives in the C-Suite of leading corporations, meeting planners, and community leaders to get the straight talk they need to stay safe in a world in which physical and virtual crime is commonplace. Siciliano is accessible, real, professional, and ready to weigh in and comment at a moment's notice on breaking news.
- Isis Mobile Wallet goes live
Isis Mobile Wallet allows you to make purchases with your phone—a technology that just went live. Just wave your Isis-compatible smartphone at select cash registers to buy soda or taxi service, via Isis’s near-field communication technology. (iPhone compatibility with NFC will come later on.) Incentives Customers of Isis Mobile Wallet can use My Coke Rewards and Isis
- Use Cases for NFC in non-payment scenarios. Where else will we see this technology flourish?
Near Field Communications (NFC), is the exchange of information between two devices via wireless signal. For example, a wireless signal emitting from your cell phone can act as a credit card when making a purchase. In the case of a mobile wallet application, those devices would be a mobile phone and a point of sale
- 5 Things To Know About Contactless Payment
Contactless payment, also known as NFC or near field communication, is a technology that allows electronic devices to communicate wirelessly. In the case of a mobile wallet application, those devices would typically be a mobile phone and a point of sale terminal at a checkout counter. (NFC has other uses beyond credit card transactions: it
- What is a mobile wallet?
Some say there will be a day when the wallet you carry in your pocket or purse will become obsolete. Technology is evolving in a way that will likely eliminate all our credit cards, store cards, and IDs. We will use our mobile devices as our primary means of commerce and identification. The technology behind
- Making a Case for Mobile Payment
Mobile payment can transform your shopping experience, making it more convenient and easy—and it’s secure, too! Forbes reports, “Shopping has become very impersonal. Few people have a relationship with a salesperson who knows their style and preferences and can direct them to the right items at the right prices as soon as they walk in the
Leave a Comment
You must be logged in to post a comment.