Thursday, June 28, 2012

Why eWallet and NFC is the next big thing?

NFC ( Near Field communication) is not a new technology , build upon Radio frequency identification (RFID) systems , has a history of more than 25years. But only in 2004 it came to limelight and during the last few years , its uses in commerce attained greater relevance.

 NFC is a radio communication between two devices held in close proximity of few centimeters  or in direct contact.It is also possible between an NFC device and non powered NFC enabled "tag". In short its a much simpler method of data transfer than Wifi with security. Apart from this data transfer capability, during the last few years NFC attained importance in commerce.

eWallet is a term we began to hear recently on a regular basis , which is basically a virtual  wallet capable of storing your money,credit cards,coupons. This feature was earlier used for online transactions only , but with NFC gaining acceptance and more devices coming out with NFC , eWallet can surely replace your wallet with easy money transfer facility.What NFC and eWallet promises is easy transaction without compromising on security. The advantage of capability of using a non powered NFC device like "tags" will surely open up new doors in commerce.

Last week , Microsoft announced their Windows 8 mobile OS with features of eWallet using NFC.Windows 8 eWallet is a pure  carrier based (sim based ) wallet feature making use of device's NFC whereas Google Wallet is a phone feature  ( though capable of providing sim based ). Apple's new iOS 6 also features  eWallet called Passbook , though none of their devices at present have NFC capability which is a much awaited add on in iphone 5 , iOS 6 at present can only store coupons and passes.

So not far  are those days where we carry our smartphone  as wallet for every transaction we do, not only in an online shop but also in restaurants , your favorite local grocery shop  and so on...

1 comment:

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