Can we ever keep up with technology? Cell phones are amongst the fastest growing technologies now a days. There are many functions available to increase satisfaction and convenience, for instance the addicting “Angry Birds” and online banking. NFC, Near Field Communications, is one of the new business technologies to help add convenience for consumers while making a purchase. By simply tapping your smartphone or tablet with a NFC chip on the reader platform, the transaction will be made upon your confirmation.
Informa Telecoms & Media estimates that by 2015, 40% of new mobile devices which is 630 million NFC handsets will be shipped globally. The idea of NFC is closely parallel to the “Octopus Card” used in Hong Kong. People use this card daily for commuting and shopping! Inventions like these makes everyday life easier and you will no longer need to carry a wallet around. With the quick paced technology advancements, an app for digitally opening house doors is probably on its way and the need to carry a key around will be eliminated.
Octopus Cards used in Hong Kong.
Photo credit: http://anasarmiento.files.wordpress.com/2011/02/octopus.jpg
Here is a video showing how NFC transactions are made.
Click here for source.
I agree that the NFC would be a huge technological advancement and would create more convenience to the transaction and purchases made in everyday life. But a point must be made as to how secure the information and transactions would be and how safe this would be.
Imagine if someone stole your phone? What if they were able to steal your password from the previous confirmations through the same phone?
Technology advancements certainly make life easier but we must also remember the security issues that can come along with such advancements.