The experience of paying with near field communication

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An article recently surfaced on Phones review .co.uk (which is obviously a website from the United Kingdom) that talks about the replacement of credit cards using NFC. They seem quite optimistic that NFC will replace the currently most used way to pay which is credit/ debit cards. The experience is easier, faster and more convenient and will definitely attract many consumers for those reasons.

?While mobile phones were originally conceived as devices purely aimed at allowing portable communication between the business elite, they have become throughout the world and have accrued a number of additional functions on top of basic talking and texting . ?

This obviously includes using your cellphone as a camera, camcorder, gaming device, mp3 player and basically anything else you can think of along those lines. NFC is promising that your phone will be used for even more and that includes paying for goods.

? There are a few caveats to the use of NFC technology in the short term, largely introduced to ensure that it is used securely. The first is that payments are limited to a maximum of around £15, which will allow consumers to buy groceries, pick up their lunch or grab a bus ticket but will not let them pay for more expensive items. This should reduce the desire to impulse buy and will also make it more difficult for fraudsters to exploit NFC. The second is the use of PIN codes when paying by NFC, which will mean there are some similarities between it and payment cards. However, this will mean that it will not be possible for just anyone to buy goods using your mobile, making the loss or theft of a device less troublesome.?

This is important because if it is not used securely then it can be very dangerous to American's bank accounts. To me, this quote means that we should all wait a little while before jumping into NFC so the credit card and cell phone companies can work out all the kinks in the system that have to do with security. This will definitely only be perfected indefinitely by trial and error. Let other consumers make the errors so we don't have to. Once this has been deemed an all around safe way to pay, I for one will gladly replace my credit cards with my cell phone. It's all about the experience.