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.