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Growth of NFC devices to boost mobile e-money payments 2011
22 Oct 2010

The expected growth of NFC (near-field communications)-enabled mobile devices will help boost the mobile e-money payments industry, it has been claimed.

NFC technology allows devices within a short radius of each other to transfer data, enabling mobile phone users to pay for goods by simply holding their handset agiasnt the provided reader.

Randy Vanderhoof, executive director of the Smart Card Alliance, expressed his belief that mobile banking will become more popular over the coming years.

He told bankinfosecurity.com: "By 2011, we can expect to see more NFC [near-field communications]-enabled devices being rolled out by the handset manufacturers."

One possible barrier to the widespread of adoption of the technology is many consumers concerns over its security.

Jason Rouse, a mobile security consultant, labelled it as "probably the most vulnerable mode of communication we have ever created".

"We need to tread carefully to ensure that we not only select the right protocols, but also implement them correctly," he told the website.