Big things have small beginnings
August 24th, 2015 | Syed Irfan Ajmal | No Comments
IMAGINE A future where you pay all your bills without standing in cues, a future where your presence is your bank id and checkout for your purchase is done as you pass by the counter. You dont need to be a rock-star to receive such VIP protocol for it is available to everyone owning a mobile phone integrated with a small sticker sized chip connecting it to your bank account or telecom operator account.
Advancements in the fields of radionics and communication technologies have made possible the invention of NFC chips which have the ability to communicate modulated messages in a near field without any need for power supply. This unique ability of the NFC chips opens up new vistas of application for innovators around the globe. One of the glaring applications of this technology is its amalgamation with mobile banking giving birth to a whole new concept of NFC based mobile purchasing apps which, despite being miniscule, has the potential to revolutionize the way we make purchases.
It wasnt long before the idea of internet banking surfaced on technology magazines but, as soon as it saw the light of the day, it took over the conventional banking as a preferred mode of transaction. Among the number of reasons contributing to the success of internet banking, convenience and ease of use are the stand-out factors. Similarly, a typical mobile purchasing app provides the user an even more level of convenience by liberating them from hassle of carrying cash. This unique quality of the app makes it versatile and more suitable to the footloose generation of smartphone users.
Moreover, advanced NFC based purchase app providers go one step ahead in providing ease and comfort to the user by providing them with the option of novel experience to connect the NFC chip with their telecom account as well. By doing so, such apps make it possible for users without conventional bank account to equally enjoy the benefit of modern technology at the cost of small conversion rate charged by the telecom carrier. Additionally, such apps also offer multiple solutions to a large range of purchase activities including utility bills payments, fees payment, courier charges, stamp fees, legal fees, and passport and visa charges to name the few. The advanced users of modern NFC based mobile purchasing apps can enjoy all these perks and more without the need to plug-in a card reader by simply attaching the NFC sticker on their phone unlike the traditional mobile purchasing apps.
The future of our everyday purchasing method is still in an uncertain transition but thanks to the modern scientific advancements the world is moving faster than ever towards a more mobile-powered payment arena. In that arena, the NFC device may be a thin edge of the wedge but it is a precursor to a whole new approach to the way we make transactions.
Published in: Volume 06 Issue 34
Short Link: http://www.technologytimes.pk/?p=14117