Mobile phones set to replace debit and credit cards using NFC (Near field communication) technology.

By: Ankita Baheti Sharda | Posted On: June 4, 2013 | Comments: no

Mobile phone ready to replace credit cards

Mobile phone ready to replace credit cards

Assume a situation that you are in a shopping mall. You did your shopping and you are at the front of billing counter with the bill in your hand and you put your hand in your pocket to take out debit card. Suddenly you realize you have forgotten the card at home. That very moment you feel awkward as everyone is looking at you. You quickly take out your mobile phone and call your family member, tell them the situation and ask them to come there.

This is probably a major worry to take care of various things like debit cards, credit cards, mobiles, bills etc. in your pocket? Now carry just one thing and forget about others i.e. your sharp, apt, alert, active mobile phone. Number of alterations and updations are done everyday to make your mobile phone more and more better. Your single high end device is able to perform various jobs which utilizes AI techniques.

But with the development of NFC (near field communication) your cellphones can now act as your virtual debit card or credit card. With the extension of technology the advantages and utilization has further taken one step ahead. There are undefined, infinite opportunities which will further enhance the cellphone usage. NFC has made the mode of transactions for payments through cell phones easier, safer, quicker for sure and now it is aimed to replace traditional debit cards and credit cards. NFC is nothing but a WC technique which enables the consumers to merely tap or wave their respective cell phone over other NFC enabled device to exchange any required piece of information or message. In addition to this if you bring your cellphone just 10 cm near the accounting hardware device the payments will be done automatically.

Actually the technology applies field of electromagnetic radio signals to exchange data from one device to other like from mobile phone to computer or vice versa. You need to just shake or tap your mobile phone in front of desk of the store accountant’s computer. But the primary requirement is that both the devices should be NFC activated.

So now you can roam around tension free with just one NFC installed device i.e. your skillful, pleasant mobile phone. So if you forget you wallet or misplace your credit or debit card (by chance) then also you’ll be able to do payments and make transactions with NFC enable mobile phone.

Even from security prospective it is safer because NFC is multiple layered security tight system which holds and stores all your financial data in a coded encrypted form. The specific data is not reserved on any phone’s software instead it is protectively saved at a very small embedded hardware which is placed into phone. To get hold on the secured encrypted data you need to enter a private secured PIN number which is only known by you. In case if you loose your precious mobile phone the situation will be similar to the case when your wallet is lost. Furthermore this NFC enabled quick witted mobile phone can save boarding passes, tickets, discount vouchers, loyalty points and store coupons which can help in creating a greener world. Also it permits you to share your multimedia file information with any of your on-line community. All you need is to merely shake your mobile phone and information will be shared.

Surely there are much wider and broader aspects of such a nice and helpful technology.

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