How short range wireless could change the way you accept credit cards

NFC stands for “Near Field Communication”. NFC is a short-ranged wireless technology that allows devices to communicate with each other over short distances. And by short distance, I mean a little less than 2 inches.

The data transfer between the devices occurs through one of two means: either a short wave or, as is more common, a touch or tap. It is used for syncing, transferring data and doing transactions.

This technology will allow people share items like music files, video clips, apps, contacts, and more. As two phones can be held close to one another and with software, you’ll be able give transfer these items quickly and securely.

NFC is all about scanning objects with a reader. It is very similar to scanning barcodes, but much more flexible and secure. The information transfer could be used in a POS system (for instance, at a store’s checkout counter) or even something as simple as scanning the embedded NFC chip in a tag, sticker, poster, decal or card.

What this means is NFC could make transactions faster and more eco-friendly. In the future you may not have to carry cash, swipe a credit card, or print important pieces of paper. You could simply carry your smart phone, wave it near an item, and type in your pin number to approve the transaction. Your phone could become a concert ticket, airline ticket, police ticket, doctor’s prescription, etc.

Finally, there is no need to worry about security, as this technology requires you to have to engage the transaction by using your pin number to open the app before anything can be done.

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