Smartphone payments using ‘Near Field Communications’ (NFC) technology
by Simon O’Connell
Some of the biggest technology and payment transaction companies in the world are joining forces to allow shoppers to pay for goods using their mobile phones.
Google is linking with MasterCard and Citigroup so that users of Android phones can pay for purchases using ‘Near Field Communications’ (NFC) technology. This allows users to simply wave their mobile phone, and for it to act as a contactless payment system, similar to those used in some recently launched credit cards, and on transport networks such as London’s tube.
The thinking behind the technology is twofold: to make purchasing smoother, and also to allow companies such as Google to offer retailers data about potential customers which enables them to target shoppers with bespoke offers and adverts when they are near their stores.
Picture; iPhone4 © 2011 Apple Inc.