What is NFC? A football club in Northampton? 🙂 NFC stands for near field communications and really we all should not only know about it but we’re using it in a host of applications through cards.
NFC, or near-field communications, is a way for two devices to communicate small amounts of data when they’re placed about three-four inches apart – almost virtual payment where neither party needs use any other form of payment.
The London tube has been using it for years, and also HK and Singapore underground. It’s mostly seen as the next evolution stage of wireless payments transfers. The future gateway is a vision where your mobile phone will become the only thing you need to carry as it will become your tool to seamlessly pay for goods/services like transport; foods and restaurant bills.
Imagine this coupled with your budget app which can then add onto your bank account and predict your real liquidity at any time of day. Wow!
It’s all going through the motions and the recent below article on Sequent raising funding for NFC payments has got NFC back into the spotlight:
Google is adding its presence to the NFC forum and weighing in on its future especially with its new android operating system.
The US big 3 telecoms partners are also producing the ISIS platform to become a new way to pay through retail, f&b and travel.
For those in the know it’s a x2 RFID tag where it communicates both ways. The first time I remember reading about RFID was for farming preservation. These are the types of tags placed on livestock on a farm. Don’t ask me why I was bored at the doctor’s office reading a magazine on subsistence farming!
It seems that NFC has many challenges but given that Apple, Google et al are racing to be the first – it will be coming soon near you.
Many hype about this but think of the possibilities – you get foursquare delivering you integrated marketing offers – you go in to take advantage and you don’t even need your wallet. I may call it daylight robbery or entrapment where temptation hits you for your favourite handbag is on sale whilst you walk past a shop…. hhm…
However NFC has limitations including speed and London is especially aware of this:
We tend to live in a world where we want on demand services at the speed of light….so NFC has some way to go to ensure delivery of that.
Maybe Jack Dorsey’s Square company should not fear just yet – NFC has a lot to live up to.