NFC-powered payments revolution incoming
NFC is set to be the next stage of mobile transactions
There is a huge NFC-powered payments revolution incoming soon, and it will hit in 2011 with thanks to key players such as Nokia and Google.
Analyst iSuppli is predicting a surge in growth for mobile phone payments in 2011 thanks to increasing support for NFC technology (Near Field Communications), with Nokia and Google having both announced plans to support NFC. Nokia has said that it will add the software to its upcoming smartphone range in 2011, while Google has included support for NFC in its Android 2.3 OS and the hot Nexus S handset. What’s more, the Apple iPhone 5 is set to get NFC Technology capabilities, too.
However, although 2011 will be the kick start for NFC, 2012 is said to be the big year. Jagdish Rebello, director and principal analyst for communications, said:
“We believe that 2012 will be the make-or-break year for NFC. With all the ongoing and planned NFC trials in different regions of the world… it is imperative that business models be established that allow each of the nodes to see value in offering the service.”
NFC Technology would allow you to buy a cinema ticket or make an ATM/credit card transaction simply by holding your smartphone near a wireless terminal receiver.
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