Page 3 - All the 12 payment enabling technologies
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Near Field Communication
Near Field Communication (NFC): NFC is in its most common avatar is a Tap & Pay solution that can be used for retail
offline payments, transit, entertainment and numerous other touch points. Any unattended payment situation such
as a parking lot presents huge opportunity. For e.g., clipper card or any cashless cards being used today for public
transport can be integrated into the ubiquitous phones itself thereby making the public transport payments easier
How it Works Companies involved
Uses radio communication to establish a
connection between two devices in close proximity.
Use Case
Payments, file sharing, transit, ticketing, mobile
top up, advertising
Strengths
Easy to use (tap and go)
Weaknesses
Limited acceptance to date; too many stakeholders;
requires investment in NFC-enabled terminals
Security Risks
Electronic eavesdropping, data modification
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