Replacing Wallets with Near Field Communication
NFC definitely illustrates how technology as a whole has a knack for making us lazy. We went from the days of bartering where we needed to give up our personal belongings for new items and at this point needed to carry these belongings in order to trade them for something else. Then we came up with the cash currency system which required us to have paper and coin money on us at all times in order to use it to pay for something. After this we came up with the checking system and we could send our money to someone else by writing on a check that we are giving that money to them and the bank would take care of the hard part. Then we came up with credit cards and debit cards where we only needed to swipe the card to give them money that we had in an account(debit) or money we didn’t even have at all(credit). It’s amazing that we’ve got the point that people are constantly spending money they don’t even have by borrowing it from major corporations.
Now with this new variation of payment made possible by NFC, you need only wave your phone by a special receiver and kablamo! Your payment is made. Not to seem as though I am against the technology in anyway because obviously I’m obsessed with it however it is interesting the path the human race has made.
NFC Technology will certainly revolutionize today and pave the way to the future. “The future of what?” You ask? Anything and EVERYTHING involving money. Banking, shopping, paying bills, you name it, it will be revolutionized by this technology ever sooner than you may think. This might seem like the future is here and you may be right. All major credit card companies are currently behind this technology and are working to pull us towards a creditcard-less future. It is being fully implemented in Japan and is beginning in the US so it is only a matter of time before it takes over the rest of the world!
There are obvious safety concerns but the general consensus is that this technology is actually one of the safer forms of payment currently available. The newer Iphone that was originally announced to include it has unfortunately opted out so far. Their reasoning behind this is that they don’t want to jump into anything without first knowing that this will catch on. As soon as companies like Apple hop on board it will take off from there. People are naturally hesitant because it is so new and it is subject to failure. In my personal belief, this failure will NOT happen and many people believe I am right as many other phone companies have already hopped on the band wagon and have several nfc compatible phones.
Ther e is obviously many awesome factors that makes this technology very appealing to people, and that is that they won’t have to carry credit cards anymore and everything will be much faster. This will also make it a lot easier for the customer and the business to be able to track the transaction.
Not to mention this will be much faster than any other form of payment including cash. No more pin numbers no more fishing for change.