What is NFC and how does it work?

The evolution of smartphones plays a key factor for the development of various markets. We are constantly using our devices for daily work. So it’s no surprise that NFC payments are transforming the world. Do you know what this option does on your mobile phone?

What is the NFC option of a mobile phone?

Its English abbreviation stands for Near Field Communication and is popularly known as contactless payment. It actually refers to the ability of a device to connect and communicate with other similar devices.

It is a short-range wireless communication technology that allows data exchange between nearby devices such as mobile phones and payment terminals.

What does NFC do?

This technology in mobile phone includes various functions:

  1. One-touch payments. This is possible on compatible payment terminals without the need to enter passwords or sign receipts.
  2. Knowledge transfer. Data such as contacts, photos or messages are included. It happens between NFC devices through simple physical contact between them.
  3. Use of transport. This function helps to access public transport or pay for parking without having to carry a card. For example, for Istanbul card, you can query the balance from your mobile phone and activate the order.
  4. Door key. Some devices are used as keys to open the door of the house without the need to carry a physical key.
  5. Retrieval of product data. Some products have an NFC chip. By bringing your phone closer you will get information about the product such as price, description and even a link to purchase.
  6. Use with certain applications: There are certain applications that require this technology to work.

NFC use in banks

Users make one-touch payments at compatible payment terminals. They use cell phones instead of carrying credit or debit cards.

Additionally, through this service, customers are supported to perform banking transactions such as:

  • Balance check.
  • Money transfer.
  • Pay the bill.

Another important aspect is the improvement of security and convenience in the management of bank accounts. For example, some customers log into their accounts using an NFC card instead of a password.

Existing platforms for NFC are becoming more and more popular. These are some of them:

  • Google Pay
  • Apple Pay
  • Samsung Pay
  • Masterpass
  • Istanbul Card

In summary, the banking industry benefits from this great innovation:

  • Mobile payment services.
  • Security and convenience in managing bank accounts.
  • Convenient and convenient user experience for customers.

In short, the NFC option on your device has convenient and secure functions. It is an ever-evolving technology. It also has many benefits for marketing, logistics, the automotive industry and other fields.