Near Field Communication (NFC) is a wireless connectivity technology that allows short-range radio communication between devices. Included in a small chip inside the device, NFC allows for mobile money transactions, data exchange, location tagging, and wireless connections between two devices in very close proximity to one other, usually just a couple of centimeters apart.
Owing to the short-range nature of NFC, transfers are often completed by “tapping” devices either to another NFC-enabled device or a payment system.
Though the technology has been around for about seven years, NFC only seems to now be coming into its own, with a veritable explosion of NFC-powered devices and applications emerging over the course of the last couple of years alone. Indeed, according to a recent Juniper research report, by 2014, one in five smartphones will have NFC in them.
NFC services are set to proliferate rapidly over the next three years, with Juniper predicting almost 300 million NFC capable smartphones by the end of next year, more than half of which will be in North America, with Western Europe following closely behind.
The sudden growth spurt in the technology has much to do with its acceptance and adoption by many global mobile network operators, as well as giants like Google, RIM, Nokia, Samsung, and more.
With more and more handset vendors integrating NFC chipsets, NFC payments, mobile coupons, and smart posters are also slowly becoming more common amongst smartphone users in Western Europe, North America, and other developed regions.
No need to implant a chip--we all have a fingerprint. Several years ago I asked a technology expert at fingerprint-sensor manufacturer why credit-card companies didn't use a finger scanner at checkouts and point-of-sale terminals. He answered that it would cost more to install them and maintain the databases than to have enough reserve cash to cover fraud. So I guess we must continue to use PINs for a while longer.
Let's go whole-hog - have an RFID chip implanted subcutaneously. We already do it for our pets; such a chip can be your PIN, and absolute proof of identity.
Not sure how that works with glasses, Jack. I still think the use of the PIN is very safe and very simple. I'm not convinced that other forms of recognition really improve much on that.
John: I like your idea of the thumb print for ease of use. However, I wonder how the cost would compare to get something that is cheap enough to be installed all over the place, but safe enough to prevent somebody from lifting a finger print and using some simple techniques to transfer it onto something stuck on a perpetrator's finger. The 16-year-old minding the cash register probably won't be paying that close attention.
Rob: Any idea of how those eye scanner would work with those of use with glasses - especially with "more robust" perscriptions? At first look, I'm not a fan of anything but medical equipment shining in my eyes.
Good point, Jon. Actually, eye recognition may be easier ultimately than fingerprints. Yet I still think the current system with a PIN is very efficient. I'm not convinved a new system can improve on the current system to a degree that warrants a massive switch in technology. Paying at the register current takes just a few seconds. Do we need to trim if from 18 seconds to 12 seconds?
Why can't I just go up to the checkout, choose VISA on the display, and have the terminal scan my fingerprint? For extra security I might have to key in a PIN. I haven't yet misplaced my thumb.
I agree, Apresher, the market will decide. While the technology may now be embedded in a a number of smartphone brands, retailers would have to adopt the technology on a wide scale. Some retailers are testing it, but to reach critical mass, it would need to be hundreds of thousands of retailer outlets. Consumers won't accpet it until it fiarly ubiquitous.
What I don't get is what it saves in time or energy. You still have to select your card or checking acount. You still have to engage in some form of security (pin or signature). It seems that ending the swipe function is not enougha big enough change to warrant a wholesale revamp of technology.
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