Credit Cards Domain: How NFC cards Playing Crucial Role

Near Field Communication (NFC) technology is a standards-based wireless communication technology that allows data to be exchanged between devices that are a few centimeters apart. NFC operates at 13.56 MHz and transfers data at up to 424 Kbits/second.

NFC is distinguished by its intuitive interface and its ability to enable largely proprietary wireless networking platforms to interoperate in a seamless manner. The primary uses are to:

Domain Knowledge in Credit Cards Processing
Domain Knowledge in Credit Cards Processing

Connect electronic devices, such as wireless components in a home office system or a headset with a mobile phone
Access digital content, using a wireless device such as a cell phone to read a “smart” poster embedded with an RF tag
Make contactless transactions, including those for payment, access and ticketing

NFC-enabled mobile applications include:

Making payments with a wave or a touch anywhere contactless card readers have been deployed Reading information and “picking up” special offers, coupons and discounts from smart posters or smart billboards
Storing tickets to access transportation gates, parking garages or get into events Storing personal information that will allow secure building access When used for contactless payment, NFC-enabled mobile phones incorporate smart chips (called secure elements) that allow the phones to securely store and use the payment application and consumer account information. Contactless transactions between an NFC-enabled mobile phone and a POS terminal use the standard ISO/IEC 14443 communication protocol currently used by EMV contactless credit and debit chip cards.

NFC-enabled mobile phones can also be used for a wide variety of other applications including chip-enabled mobile marketing (e.g., coupons, loyalty programs and other marketing offers), identity and access, ticketing and gaming.

NFC is available as standard functionality in many mobile phones and allows consumers to perform safe contactless transactions, access digital content, and connect electronic devices simply. An NFC chip in a mobile device can act as a card or a reader or both, enabling consumer devices to share information and to make secure payments quickly. (Smart Card Alliance)


Author: Srini

Experienced software developer. Skills in Development, Coding, Testing and Debugging. Good Data analytic skills (Data Warehousing and BI). Also skills in Mainframe.