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NFC In Your Mobile Phone - Is It Really Good?

The buzz of NFC is actually not something very new and advance technology but an evolution of the radio-frequency identification technology which has been getting lots of popularity in the mobile technology industry.

At present we can find NFC technology being already used in London Underground's Oyster card and Delhi's Metro card where the travelers tap their card on pad placed at entry and exit door to pay for their journey.

The great thing about NFC is not such that it enables us carry put financial transactions, but it can do lots more than that. "Sharing", "pairing" and "transactions" are three different unique features of NFC.

Although NFC is slower than Bluetooth and has a much more limited range, it consumes less power. There are also no set-up passwords or codes required, as there is with Bluetooth and secure Wi-Fi. Because of this, one of the possibilities for NFC use is as a way for devices to 'handshake' as a way of accepting another type of connection. They would just need to be placed close enough for the NFC to register first, but could then be moved away to normal Bluetooth distances once the connection was established.

All of these extended uses for NFC could be very useful, but contactless payment is what is really hitting the headlines.

By incorporating NFC in debit cards, the technology has ensured its wide distribution of the technology. When you pay with a phone, you could not only pay, but receive plenty of information digitally in return like coupons, receipts, loyalty points and warranty programs which could save your time, and your retailers money and resources.

There have been concerns that NFC would be vulnerable and face major security threats but in actual NFC integrated into phones could offer greater security. The short-range nature of NFC needs an effective touch against whatever the device holds the information. There is a £15 transaction limit, which means that a thief could not simply empty your account in one go.

While transaction, PIN to be entered and if your card is used several times in a row. To a degree, NFC could be considered a dumb connection, and the security needs to be integrated into the software that surrounds it.

The usual fraud cover that is offered by other payment systems is also in place, meaning that you will not be liable for any fraudulent transaction provided you have acted with reasonable care.

Today, if you lose your phone, not only might you have password protection on it, but also the operator can turn it off instantly. So you have double protection if you have a phone with a payment application on it. Certainly, it would be a boon for consumers if the technology did prove to be more secure in the long run, as well as convenient. When it comes to introducing a new payment technology, it is likely that NFC mobile payment technology will find its way into your pocket before too long, one way or another.

Shashi K Singh is a social media manager with vast experience, now working for xpWallet - Next Generation mWallet products and services provider, an emerging leader in the space of mobile financial services & mobile wallet Payment Solutions.

Click here for details for Next Generation mWallet products and services.

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Tag : Mobile, Phone, Really
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