What is NFC, Mobile Wallets and Mobile Phone Payments - How it works & need to know things about NFC

#nfc #whatisnfc #nfcpayments
What is an NFC? It stands for Near Field Communication and it’s the process of transferring data from 1 device to another. We’ll look at NFC payments in this video on how NFC works.

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[from the script]
So first off, what is NFC?
It stands for “Near Field Communication”and very simply, it facilitates the transfer of data (or information) from one NFC-equipped device to another.

You can transfer payment data as well as general information such as contact details or pictures and videos.

NFC is a communication technology similar to a radio frequency or bluetooth, except it’s designed exclusively to work ONLY within a specific limited range…. And in practice it’s often about a 4 inch range or less!

The vast majority of NFC use, involves a mobile phone, and since we’re talking about payment data in this video, we’ll apply this to the transfer of a credit card payment that is stored on the mobile phone inside of a mobile wallet, to the credit card terminal or point of sale device.