NFC: An Overview
If anything should support the demand for Near Field Communication (NFC), the recent holiday credit card security breaches at US-based retailer Target, and other high profile retailers, is all the incentive the public should need to demand the technology.
The driving concept behind NFC is that the individual’s cellphone or mobile device serves as a virtual wallet. However, many argue that it is a much safer method of payment than swiping a card through a chain retailer’s traditional credit card processing port.
If the merchant has the appropriate technology, the customer can simply swipe his or her NFC loaded phone over a receiver and the payment is made via credit card or debit card of choice. Voila! No cash, no fumbling your credit card and no trace of the consumers card stored with the retailer.