Near Field Communication
Technology continues to advance at a blistering pace, and consumers seem to have no problem keeping up – snatching up the latest smartphones and devices as soon as they’re released. Many of the latest smartphones, tablets, and even watches are equipped with NFC technology – also known as near-field communication –which allows customers to make payments in stores without ever pulling out a wallet.
NFC allows the exchange of data between two devices when they come in close contact with one another – a payment terminal and a smartphone, for example. Many large retailers are already using this technology in their stores to streamline check-out and increase security.
But how can this method be secure? Each device is protected by a unique digital signature – whether it’s an actual chip in a phone or a virtual signature stored in the cloud. This feature is tamper-proof and designed to be unbreachable in the event of software and hardware attacks.
Because of these inherent security measures, many customers are switching to NFC for making payments because they’re in greater control of their payment security.