Staff Reporter ISD: Pakistans technology company Wavetec has developed countrys first Near Field Communication (NFC)-enabled vending machines. This would promote digital payment solution in Pakistan. The vending machines have the capacity to hold 350 items – snacks and beverages – and operate on NFC technology. A form of contactless communication, NFC enables users to wave over their smartphones or tap their plastic cards to an NFC-enabled vending machine, which then dispenses the item selected by the user.
Ahmed Fraz Wavetecs Chief Executive Officer said in order to increase use of electronic money in the country they initiated this step.
The electronics major from NED University of Engineering and Technology said that Wavetecs vending machines will provide a platform to tap the unexplored market of digital payments in Pakistan.
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