Pay With a Cell Phone?
New technology could help cell phone payments thrive.
Cell phones make sense as vehicles for short-range wireless, cashless payments. They're almost as ubiquitous as wallets and purses and are usually kept right at hand. Near Field Communication is a developing technology that could help make contactless cell phone payments more widespread. Testing is already underway, and industry association NFC Forum took the key step of releasing the technology architecture and some initial specifications in June.
NFC also has a variety of potential uses for data transfer, syncing devices and even accessing online digital content. One possibility involves embedding NFC tags in billboards or ads so passersby can use their NFC-capable phones to instantly act on an offer or get more information.
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Entrepreneur Editors' Picks
-
When Her Parents' Restaurant Burned Down, This First-Generation Founder's Hot Sauce Brand Rose From the Ashes to Take on Corporate Giants
-
Not Hitting Your Goals? Here's How to Know If You Should Change Tactics or Strategy.
-
You Can Generate Your Own Viral LinkedIn Post With This Hilarious Tool
-
This Couple Lost Everything When the Housing Market Crashed. But Manifesting 'Magic' Helped Them Launch a Metaphysical Brand With 10 Stores.
-
The Best Software Solutions and Tech Providers in the Franchising Industry
-
This 18-Year-Old Student Wanted a Better Way to Keep Track of His School Work. So He Built an App — and a Business.