Near Field Communications

Near field communication (NFC) is a similar type of technology found in WiFi that is found in most new smartphones. NFC is a radio connectivity between two or more devices that have NFC capabilities that are in close proximity ranging up to 10 centimeters.
 
 
The technology is short range with a low power wireless link which can transfer small amounts of data between two devices. NFC operates at a slower speed than Bluetooth technology but consumes less power to operate in comparison. NFC tags are small objects such as stickers, tags and wrist bands. The tags can be attached to posters in order to connect with NFC devices. NFC tags are powered by the devices they are connected too and do not need batteries to operate.
 

 

How is NFC technology used?

One well known benefit of NFC technology is the fact that it can be used for contactless payment systems similar to contactless credit cards and electronic tickets. NFC could possibly act as a replacement for such payment systems in the future.The technology can also be used to securely store personal data such as credit card information and loyalty program data for retailers. The main use for NFC is that smartphones with the technology can be paired with NFC tags.
 
 

Ways of Making Money from NFC

Replacement for barcodes and credit cards

It is possible that NFC tags could one day replace bar codes and even credit cards in retail. For this reason if someone could create a system where NFC technology makes payment processes and product scanning quicker and flawless, then you could be on to something here.
 
 
 

Selling merchandise containing NFC tags

There is already an established market for NFC tags. Near Field Communication tags are available in many different forms such as tags on posters, wristbands, stickers, wristbands and items similar.
These items contain microchips with Near Field Communication technology which can then be programmed by relevant NFC apps found on the Google Play Store and similar app stores. As mentioned there is an established market, this is a technology that is still in its infancy.
 
 

Using NFC for marketing

NFC could also become an avenue for marketing products and for those in the marketing industry. NFC tags on posters in public locations are capable of containing information and data such as a website link or discount voucher which can be transferred to passers by with compatible smartphones. NFC tags can be encoded numerous times until they are locked by using relevant smartphone apps that can be found in the app stores. Once a tag is locked it cannot be altered, making the technology a secure avenue for passing and saving information.
 
 
Near Field Communications may take off to be a massive phenomenon, however a majority of smartphone users do not know they have this technology already in their pockets. There are massive opportunities ahead in this field in which people can make money with this innovative technology.

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