Home > hardware, Mobile, News, NFC, Nokia 6131, Nokia 6212, phone, pics, pictures, Technology > Future of Money=Mobile Phone

Future of Money=Mobile Phone

With the News hitting a few days ago of Visa having launched its first mobile payment service utilizing Near Field Communications technology for point-of-sale transactions in Malaysia I could not help myself but visualise the time when all money transactions shall take place with mobile phones. The service allows owners of NFC-powered Nokia 6212 cell phones to wave the device by a contactless reader that will automatically deduct money from their credit account to make payments. Currently, 1,800 shops—along with highway toll gates and car park facilities—are already using the service.

I see this technology becoming a main stream one if the handset makers add it to their handsets with more enthusiasm and vigour.  The technology is great and reduces the need to carry the wallet and your cards with you. Though it increases your convenience but along with this makes your mobile phone more vulnerable and thus giving even more reasons for its theft. The security aspect of this technology is critical if it has to become more main stream. This technology as i see, if properly implemented and executed shall replace paper money and cards by the end of this decade globally in the high tele density markets.

So the mobile phone in future shall become even more essential than its today more one more reason.

Exactly what is NFC??

Near Field Communication or NFC, is a short-range high frequency wireless communication technology which enables the exchange of data between devices over about a 10 centimetre (around 4 inches) distance.The technology is a simple extension of the ISO/IEC 14443 proximity-card standard (contactless card, RFID) that combines the interface of a smartcard and a reader into a single device. An NFC device can communicate with both existing ISO/IEC 14443 smartcards and readers, as well as with other NFC devices, and is thereby compatible with existing contactless infrastructure already in use for public transportation and payment. NFC is primarily aimed at usage in mobile phones.

Uses and applications

1. Mobile ticketing in public transport — an extension of the existing contactless infrastructure.
2. Mobile payment — the device acts as a debit/ credit payment card.
3. Smart poster — the mobile phone is used to read RFID tags on outdoor billboards in order to get info on the move.
4. Bluetooth pairing — in the future pairing of Bluetooth 2.1 devices with NFC support will be as easy as bringing them close together and accepting the pairing. The process of activating Bluetooth on both sides, searching, waiting, pairing and authorization will be replaced by a simple “touch” of the mobile phones.

Other applications in the future could include:
1. Electronic ticketing — airline tickets, concert/event tickets, and others
2. Electronic money
3. Travel cards
4. Identity documents
5. Mobile commerce
6. Electronic keys — car keys, house/office keys, hotel room keys, etc.
7. NFC can be used to configure and initiate other wireless network connections such as Bluetooth, Wi-Fi or Ultra-wideband.

untitled-11

NFC-enabled handsets from left to right
Nokia 6212 [12]
Nokia_6131[13]
Nokia 3220 + NFC Shell[14]
Samsung SGH-X700 NFC[15]
Samsung D500E[16]
SAGEM my700X Contactless[17]
LG 600V contactless[18]
Motorola L7 (SLVR)[19]
Benq T80[20]

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: