Near Field Communication and Payments

Online shopping and the online industry are quite popular nowadays. Over the last 10 years, there has been a steady and drastic rise of online shopping throughout the United States. So much so that now not only are consumers able to buy merchandise but food and groceries is also available as well. Even pets can now be bought online. Because of this interest in online shopping many companies have been created to cater to online shoppers. Big time companies such as eBay and PayPal are two examples. What’s interesting about PayPal is that it is strictly an online bank. There is not many like PayPal out there today and even so, these companies are not as popular as the PayPal online payment method system. One new wireless payment method software is called NFC. NFC is giving PayPal and other online banking systems a run for their money. What’s unique about this system is that it allows for wireless payment transactions through mobile devices.

Payment with NFC

NFC uses radio frequency tagging as a way to conduct transactions through the phone. What sets it apart from other systems similar to it is that NFC can only utilize close proximity transaction and track every transaction sent. What this means is that only mobile phones that are in close proximity to each other can send wireless transactions. The phones must be within 1.5 inches in range. This lesson’s the chance of someone sending payments to another phone that is in closer in proximity than the phone intended. Also, the tagging system allows for all transaction to be tracked. This leaves a paper trail and helps protect both the payee and the receiver. 

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