NFC (near field communication) is the technology that allows two devices—like your phone and a payments terminal—to talk to each other when they’re close together. NFC is the technology that enables contactless payments.
NFC is an upgrade of the existing proximity card standard (RFID) that combines the interface of a smartcard and a reader into a single device. It allows users to seamlessly share content between digital devices, pay bills, pay fee online wirelessly or even use their cell phone as an electronic traveling ticket on existing contactless infrastructure already in use for public transportation.
You’ll need to get a new NFC-enabled payments reader that can accept contactless payments.
Here are some amazing things everyone should need to know…
- NFC technology allows two NFC-enabled devices to exchange data at the distance of a mere few inches.
- NFC technology is completely wireless.
- NFC Technology can be contactless – NFC payments can be made through just the mobile phone as well as by tapping an NFC-enabled terminal.
- NFC technology definitely trumps the Bluetooth, as it consumes less power, and no pairing code is required either.
- Since NFC technology is less power-consuming, it means your phone has a longer battery life. This is important, especially if you are to adapt to the NFC payment lifestyle!
- NFC payments render the need to lug around a wallet full of cash, change and cards completely unnecessary.
- To become part of the NFC technology family, and conduct NFC payments with a tap, sometimes all you will need is a mobile phone with a SIM, as the SIM acts as your identity tool with the NFC network.
- More and more Smartphone systems have incorporated NFC technology, so you may already be ahead of the game!
- While many people prefer traditional means of payments, with NFC payments, you are safeguarded from theft, or financial fraud.
- NFC payments are even more secure, because once you tap the Point of Sale terminal for a payment, you will be asked to confirm your NFC payment via a password, fingerprint scan, or other security measure.
- You can pay for a variety of services with NFC technology – in retail stores and online, and for micro transactions such as parking fee or bus fare too!
- NFC technology is fun – it allows your phone to ‘read’ NFC tags which may offer discount vouchers, helpful information, or the ability to pay instantly for something.
- Like most credit card systems, your NFC technology savvy mobile phone will allow you to make payments all over the world!
- NFC payments are travel-friendly: because all NFC payments are safe and secure with the advantage of PIN approval.
- NFC technology uses your phone to connect your bank account or mobile account to other people and businesses for payments – but at no point does any of your personal information go to the payee!