HUGE DEMAND FOR NFC PAYMENTS Industry

HUGE DEMAND FOR NFC PAYMENTS Industry

Near-Field-Communication (NFC) is a set of communication protocols for communication between two electronic devices over a distance of 4 cm or less. NFC provides a slow connection with easy setup that can boot more powerful wireless connections.

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Some of the key players of NFC Payments Industry:

Apple Inc., Garmin Ltd, Google, Mastercard, NortonLifeLock Inc., Paypal, Paytm, Samsung Electronics, Square Capital, LLC., Visa

NFC devices can act as electronic identification documents and key cards. They are used in contactless payment systems and enable the replacement or addition of mobile payment systems such as credit cards and smart cards for electronic tickets. This is sometimes referred to as NFC / CTLS or CTLS NFC, which is the abbreviation for contactless CTLS. NFC can be used to share small files like contacts and boot quick connections to share larger media like photos, videos, and other files.

Similar ideas in advertising and industrial applications have generally not been commercially successful and have been outdone by technologies such as QR codes, barcodes and UHF RFID tags. NFC protocols have established a widely supported standard. If one of the connected devices has an Internet connection, the other can exchange data with online services.

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