Mobile application is emerging strongly by the support offered by many platforms; the new generation of iPhones or Smartphones, with Android OS support turns fascinated with an equipment called Near Field Communication(NFC) chips. What this allows to do? It would allow Smartphones to act as a payment device. NFC-enabled Smartphones when placed near communicate with each other. It's a way of transferring information, in the form of bytes. This was a mobile application development, in future, a shopping center flex with NFC-enabled chip will lead a path to the store. Payments for any services at the railway station, sub-way passers, shopping center with their logos spotting the NFC will do. Though there are certain myths followed to use NFC, a few are listed below here.
NFC not been considered as consumer easier payment resource:
Due to lack of security, many consumers are not interested to use it, and there is no answer to a question for a long time, what happens when it gets stolen? Being unaware of this, it hasn't still been resolved. Many Smartphone companies are looking into NFC for various purposes other than payment are they now concentrating on the no longer unanswered issue. People who have tested NFC for transactions loved to use it.
What makes consumer don't to turn on NFC?
Though there entered a variety of devices with the streaming technology of NFC, by almost all mobile companies like Samsung, Black berry, Nokia, Microsoft and Google have been supporting the technology, besides many world banks and credit card business players supported the NFC technology but which was rolled out.
Solution:
It takes time to make people realize the usage of NFC technology, it is not only the mere way only for payment transaction, it also adopts various use-case strategy on the NFC-enabled mobile phones. So as when ATM , the pin number, and decoded number for transaction were introduced people scared to use it, later it was adopted. Likewise to make them understand, the option is creating an awareness, where Gemalto, who concludes in a report of their research as there needs a financial education which eradicate the large gap between customers and NFC technology.
Use of mobile wallet, that with this when a physical world is connected to Digital wallets and NFC works in all apps, then it would be more trendy and it needs to be more customer-centric, to make lives easier. But there is occurring a more friction between the mobile network operators and Operating System heads to bring out this operational mobile payment dynamics. NFC is a technology solution seeker.
Is mobile transaction using NFC secure? - It is!
· As like bank cards, NFC mobile payment cards bring in an additional security layer which has been initiated by payment network schemes.
· Payment applications are installed in secure elements of SIM card enabled with NFC and the stored customers' applications and payment details are verified and certified by financial authorities, which are comparable to CHIP-N-PIN.
· Secured transactions are possible through NFC, thus it provides an option for consumer to authenticate their own transaction, by asking them to enter a PIN number or code on payment application. Even for a lesser amount of transaction consumer will be asked to authenticate the payment transaction. This provides them a complete secure mode.
· In case of mishaps like theft, or missed the card, secure on air technology enables them to manage the credentials, by immediate blocking. They need to call the Manager of Network Operations, thus they will process further and block the user credentials.
Due to lack of security, many consumers are not interested to use it, and there is no answer to a question for a long time, what happens when it gets stolen? Being unaware of this, it hasn't still been resolved. Many Smartphone companies are looking into NFC for various purposes other than payment are they now concentrating on the no longer unanswered issue. People who have tested NFC for transactions loved to use it.
What makes consumer don't to turn on NFC?
Though there entered a variety of devices with the streaming technology of NFC, by almost all mobile companies like Samsung, Black berry, Nokia, Microsoft and Google have been supporting the technology, besides many world banks and credit card business players supported the NFC technology but which was rolled out.
Solution:
It takes time to make people realize the usage of NFC technology, it is not only the mere way only for payment transaction, it also adopts various use-case strategy on the NFC-enabled mobile phones. So as when ATM , the pin number, and decoded number for transaction were introduced people scared to use it, later it was adopted. Likewise to make them understand, the option is creating an awareness, where Gemalto, who concludes in a report of their research as there needs a financial education which eradicate the large gap between customers and NFC technology.
Use of mobile wallet, that with this when a physical world is connected to Digital wallets and NFC works in all apps, then it would be more trendy and it needs to be more customer-centric, to make lives easier. But there is occurring a more friction between the mobile network operators and Operating System heads to bring out this operational mobile payment dynamics. NFC is a technology solution seeker.
Is mobile transaction using NFC secure? - It is!
· As like bank cards, NFC mobile payment cards bring in an additional security layer which has been initiated by payment network schemes.
· Payment applications are installed in secure elements of SIM card enabled with NFC and the stored customers' applications and payment details are verified and certified by financial authorities, which are comparable to CHIP-N-PIN.
· Secured transactions are possible through NFC, thus it provides an option for consumer to authenticate their own transaction, by asking them to enter a PIN number or code on payment application. Even for a lesser amount of transaction consumer will be asked to authenticate the payment transaction. This provides them a complete secure mode.
· In case of mishaps like theft, or missed the card, secure on air technology enables them to manage the credentials, by immediate blocking. They need to call the Manager of Network Operations, thus they will process further and block the user credentials.
Conclusion:
NFC is a technology solution, five years earlier from now, it was lacking in many arenas, but now it's booming with the fastest technology growth. Ten years from now, sure it will be the best possible way to do transactions via Smartphones. Hence, it is in a deployment stage in many countries and continents, but NFC will be alive as a technology solution in the near future.
NFC is a technology solution, five years earlier from now, it was lacking in many arenas, but now it's booming with the fastest technology growth. Ten years from now, sure it will be the best possible way to do transactions via Smartphones. Hence, it is in a deployment stage in many countries and continents, but NFC will be alive as a technology solution in the near future.