When news about NFC technology started buzzing in internet circles and in blogging sites ,speculation of its use in various domains were made as we write lot of development in applications using NFC has been made. Paypal already showed how easy payments transfer can be used using NFC . (Read Paypal using NFC ). Not to lag behind and realizing the market this can be in future , Goggle came with its own app Google Wallet.
Google Wallet is a mobile payment system developed by Google that allows its users to store credit cards, loyalty cards, and gift cards among other things, as well as redeeming sales promotions on their mobile phone.Google Wallet uses near field communication to “make secure payments fast and convenient by simply tapping the phone on any PayPass-enabled terminal at checkout.
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The arrival of new technology always excites us . Though NFC has been out for a while now with Nokia being the major manufacturer integrating NFC chip in its mobiles ,but over the time NFC enable mobiles have increased with Samsung and Blackberry is also catching up. Some people may think it’s a replacement for bluetooth , but hey it’s entirely different technology and works alongside bluetooth. To put up in layman words NFC enables secure communication with two NFC enabled mobiles for eg between your Nokia 700 and Nokia 701.
To put in more technical terms,NFC, short for Near Field Communication, is a short range wireless RFID technology that makes use of interacting electromagnetic radio fields instead of the typical direct radio transmissions used by technologies such as Bluetooth. It is meant for applications where a physical touch, or close to it, is required in order to maintain security.
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Making business transactions smooth and at the spot ,PayPal has come up with convenient way of money transfer through mobiles capable with NFC.
The payments work through a PayPal widget that allows a user to request or send money. A user enters the transaction information and then taps their phone up against another phone also equipped with the same app. After the phones buzz together, the recipient can decide to send or receive money by entering a PIN number.
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