CASH­LESS-CARD­LESS WORLD

Gadgets and Gizmos (India) - - MOBILES TRENDS -

The fu­ture of mo­bile pay­ments won’t re­volve only around SMS or ap­pli­ca­tions. Near-field com­mu­ni­ca­tion (NFC) will en­able ecom­merce and con­tact­less pay­ments in a big way. The fun­da­men­tal na­ture of this tech­nol­ogy is to ini­ti­ate con­nec­tion be­tween two Nfc-en­abled de­vices at a close range of 4 cm. While it is se­cure over medi­ums of con­tact­less pay­ments, it still re­quires you to be phys­i­cally present to carry out the trans­ac­tion. With more and more Nfc-en­abled phones be­ing launched, more Nfc-read­ing de­vices will be de­vel­oped to al­low more mon­e­tary trans­ac­tions. Ap­pli­ca­tions that store bank ac­count de­tails and other de­tails for mak­ing pay­ments will also be launched. As soon as the phone is tapped against an NFC tag or reader, the ap­pli­ca­tion will ini­ti­ate a se­cure medium of mak­ing pay­ment, us­ing pro­tected pass­words.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.