NFC (Near-field communication) allows wireless devices to transfer data within short distances( 4 cm or less).NFC operates at 13.56 MHz and at rates ranging from 106 kbit/s to 848 kbit/s. This makes NFC an ideal technology for financial transactions between a phone and a device at a store. NFC phones with special chips can establish short-range contact with readers at checkout counters. Mobile phones can then be used to pay for goods at stores with a simple wave.Amazon, Google, Apple, Microsoft and many others have their eyes on the NFC mobile payment market.It's your smartphone that is going to replace your wallet in near future.
Google is leading the race with its Android powered Mobile phones which already has NFC support, but most Android phones don’t carry NFC chips.it also acquired NFC startup Zetawire recently. Apple is considering adding NFC to the iPhone 5. AT&T, Verizon & T-Mobile are joining hands to announce Isis, a joint venture to facilitate the addition of NFC technology into their phones.Isis alone controls more than 200 million wireless subscribers and hundreds of millions of handsets. Microsoft will add NFC into its OS this year, Microsoft has a technical partnership with Nokia in mobile platforms.NFC could be used in payments, transportation, health care, smart objects and social media. Each one of those industries is a multi-billion dollar market on its own.
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