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NFC Technology: Secure, Seamless Transactions
NFC applications have the potential to
revolutionize the way people are using mobile
banking. NFC technology creates new ways of
accessing information, executing tasks and conducting
transactions through a users mobile device. At the same
time, NFC gives the banking and payment sectors an
exciting new way to improve the customer’s experience at
checkout and increase retailer loyalty.
A short-range wireless communication technology, NFC
makes life easier and more convenient for consumers
around the world, by making it possible to perform financial
transactions, exchange digital content and connect
electronic devices with just a touch.
NFC FOR PAYMENTS
NFC-enabled mobile devices make a broad array of mobile
electronic wallet applications possible, including credit/debit
card accounts, e-cash accounts, loyalty programs, coupons,
vouchers and other value-added services. Consumers will have
constant access to payment means through their devices.
NFC payment sector opportunities benefit a variety of
organizations beyond banking service providers, including
retailers, handset providers, mobile network operators,
Internet service providers and innovative startups.
Why NFC for the Payment Sector
• Shorten checkout times to increase transaction volumes
• Encourage higher per-visit sales through spur-of-the-
moment purchases
Peer-to-peer mode
enables two devices to
exchange information
or files
Reader-writer mode
enables devices to read
information written on
an embedded tag
Card emulation mode
enables devices to act
like smart cards for
access and payment
ThE N-MArk lets people easily identify NFC-enabled
devices and touchpoints, providing
simple and nearly effortless access to
the full power, ease and convenience of
NFC solutions:
PAYMENTSIG
Why NFC for the
Payment Sector (Cont.)
• Communicate with
customers and build loyalty
with personalized offers
• Get detailed analytics
using customer purchasing
behavior insights
Why NFC for Consumers
• Faster checkout and shorter lines by
paying with a mobile device
• Eliminates need for keeping physical
coupons—customers can identify and
redeem discounts at POS
• Secure, easy option for using e-gift cards and making payments
in a wide range of locations, such as restaurants, taxis, movie
theaters, gas stations, parking meters and more
LEARN MORE & GET INVOLVED
The NFC Payments SIG works with key stakeholders in the payment
sector to encourage usage and promote the benefits of NFC. Our
constituents include companies in payment account issuance and
acquisition, and those related to merchants and end customers.
Through the Payment SIG, market requirements are presented to
NFC technology providers as opportunities for future development.
Companies working in within the payment sector are informed in
detail about current possibilities.
We also work to identify synergies among the vertical sectors of the
NFC ecosystem. For example, payment’s role in retail and transport
applications. Our primary goal is to ensure new solutions built on the
NFC platform are future-safe and investments are protected.
The NFC Forum and EMVco are currently working together to
enable alignment of specifications and related certifications.
NFC Forum members are invited to join the Payment SIG at any
time. Not a member of the Forum? Contact SIG Chairs
[email protected] or Libby Roch (LibbyR1@VERIFONE.
com) for more information and ways to partner.
AbOuT ThE NFC FORuM
500+ million NFC-enabled phones
scheduled to ship in 2014
50% of all smartphones projected to be
NFC enabled by 2015
$151+ billion in worldwide NFC-enabled
payment transactions estimated for 2015
The NFC Forum, a non-profit industry
association, was founded in 2004
by leading mobile communications,
semiconductor, and consumer
electronics companies. The Forum’s
mission is to advance the use of Near
Field Communication technology by
developing specifications, ensuring
interoperability among devices and
services, and educating the market
about NFC technology. The Forum’s
180 global member companies are
currently developing specifications for
a modular NFC device architecture, as
well as protocols for interoperable data
exchange, and device-independent
service delivery, device discovery and
device capability.
The NFC Forum’s Sponsor members
include leading players in key industries
around the world. Sponsor members
include Broadcom Corporation, Google,
INSIDE Secure, Intel, MasterCard
Worldwide, NEC, Nokia, NXP
Semiconductors, Qualcomm, renesas
Electronics Corporation, Samsung, Sony
Corporation, STMicroelectronics
and Visa Inc.
Interested in joining the NFC Forum?
Click on how to Join at www.nfc-forum.org
www.nfc-forum.org | [email protected]
