NFC or near field communication is a technology that allows you to transfer small amounts of data between two NFC enabled devices. It works with small data volumes over limited ranges allowing them to be transported. There are a lot of practical applications for it. An application of NFC is aimed at enhancing consumer convenience. There are also plenty of NFC enabled devices available in the market. So when you go to a store you only have to briefly hold up your NFC enabled device to the reader and the amount payable is automatically deducted. To make this work you first need to sign up for a service that supports NFC payments like Google wallet. Download and install the application that comes with the service you want to use. After installing the application and entering a credit or debit card you need to enable NFC in your phone. Now when you’re in a store that accepts NFC payments hold your phone close to the in store NFC reader to make transactions. You’ll receive a payment confirmation in your phone once the transaction is complete.
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So next time you go to a movie theater you will be able to pay for your ticket through your smart phone and it’ll also enable you to download the ticket directly onto your phone. You can also use this new technology on your daily bus journey. At the bus stop you can use your smart phone to check in and at your destination you can simply check out. The fares are then charged automatically. It’s safe to say that NFC chips has completely revolutionized payment methods by its mobile payments technology.
NFC enabled credit cards have been around for a while now. But credit card companies have enabled phones with the same technology so that people can conveniently use their smart phones to make payments. There are plenty of benefits of having this technology on your phones but the biggest benefit that can be attributed to it is convenience. Just think about how much time you’ll save on the check out counter when you won’t have to go through your purse to look for cash or credit card to make payments.
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Using short ranged radio communication NFC is what makes Google wallet work along with a growing number of other mobile payments apps and contact list cards.
You should always keep your phone details private and take the same precautions as you would with a wallet. For an extra level of security you can activate your phone’s screen lock with either a pattern, pin, password or if your phone has it face recognition. Telecommunication companies claim that using NFC enabled phones to make transactions is actually much safer than it is to use your credit card to make payments. Your phone has to be turned on and unlocked in order for the app to work which protects your personal information from hackers.
This article was written by Syed Irfan Ajmal. He is a serial entrepreneur, certified inbound marketer and author. He also manages www.Tyre-Shopper.co.uk