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eMoney News

NFC market 'receives positive headlines'
11 Aug 2009

There have been a number of "very positive headlines" about the near field communications (NFC) market in recent times, according to the chief executive officer of short-range communications systems developer Innovision.

David Wollen said that payment processors, mobile network operators and handset manufacturers are among those to have made favourable comments on the NFC world.

NFC is the broad term given to high frequency wireless communication technology that allows data to be exchanged between devices over a short distance.

By using similar technology, firms such as sQuidcard have created contactless smart cards that can be used in some outlets and on various services across the UK.

It is described as a convenient and safe way to pay for goods, and will soon be utilised by residents of Bolton, Greater Manchester, who will be able to pay for bus travel in the region by using the sQuid eMoney network.

Mr Wollen also suggested this week that the market for contactless applications "continues to develop".