Monday, June 3, 2013

Forget Credit/debit card pay your bill using Smartphone :NFC :Near field Communication

What is NFC?
NFC stand for Near field Communication which is next generation a wireless communication technology which allows users to simply wave or tap their phones over another NFC enabled device to exchange any desired information.

 This feature of NFC is  also used by shoppers to make payments through their mobile phones by simply bringing the phone within 10 cm of a hardware device used which is used for accounting. The technology makes use of electromagnetic radio fields to transfer data from your phone to the computer. All you have to do to transfer data is wave your phone in front of the store accountant’s computer. In order to work, both the devices involved in the data transfer need to be equipped with NFC.

With this feature you don’t have to carry separate credit or debit cards with you. So, even if you have forgotten your wallet at home, no need to worry, you can make transactions simply by using your NFC enabled smartphone.
When you have such technology which enables payment with just tapping of phone then Question arise how secure is it? What if I lose my phone? Will someone else be able to wave orr tap my phone for shopping ?
NFC has multi-layered security system that stores all data in an encrypted form on phone’s software with a extra hardware attached to it. In order to access the encrypted details you need to enter a secret PIN known only to you.
In case you lose your phone, you can deactivate your accounts immediately.
NFC extends much beyond functionality apart  form payment.
1) allow you to keep track of your loyalty points, store coupons and discount vouchers.
2) you can also store boarding passes and tickets on your mobile phone.
3) you can  share information including multimedia files with your online community.
4) Near Field Communication is next generation technology for mobile-based money transfers.