NFC, or near-field communication, is a communication protocol that allows communication between two electronic devices that are within 4 cm or less of each other. Most of devices use NFC for payment processes. Financial services often include NFC in banking applications. NFC payments are currently the most convenient way of making common transactions and are gaining popularity in developed and developing countries. NFC isn’t really a new technology and was used in several products beginning in the late 1990s. However, the widespread use of NFC started with the popularization of smartphones and mobile wallets. NFC is also often implemented in various payment cards and in some specialized products. NFC technology is sometimes implemented in both software and hardware cryptocurrency wallets for making payment processes faster.
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