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Fremont: Of late there has been a buzz about Near Field Communication (NFC), a technology which enables simplified transactions, exchange of data and wireless connections between two devices which are nearby, generally no more than a few centimeters. The technology is becoming even more in vogue with the recently introduced version of Android 2.3 Gingerbread for smartphones--many of the smartphones currently available in the market already have NFC chip embedded.
With such a change in the way we interact, how is NFC going to affect the business scenario, specially the startups? In general, NFC simplifies file sharing, which means that you can share documents, presentations and other important files by just tapping one device to the other; mobile payment, which helps to make payments by just touching a payment terminal; or even as an encrypted ID card.
Of late Eric Schmidt, the CEO of Google, was quoted to having said that the NFC technology will see 500 startups working with it in the coming years. He also feels smartphone might replace credit cards.
So if you are planning to start a company in the mobile space, why not use NFC as a core part? You can venture into various fields using the technology, like mobile payments, transportation, health care, social media, all these fields simplified with NFC.
Making payments can be made easy using NFC, as the customer just has to tap his NFC enabled mobile at the payment counter, and also help to track customer loyalty, thereby replacing loyalty cards. Hospitals and drug stores can use NFC to track the patient's history, medicines and other related information. In the field of transportation, NFC is already in the testing phase in many places, where travelers have to just tap their phones to an NFC enabled tag while boarding and getting off, which calculates their fares. The social media can also benefit from NFC, as users can use their phones to be in touch with their friends, without worrying about the network.
Though convenience is one of the main advantages of NFC, the security concern is what throes the users, thereby giving opportunity in the mobile security domain, as security will become the highest priority with the contact-less transfer options.
Thus, there are opportunities galore with the new technology, many of which have been spotted, and many of which have to be dug for, and worked upon. Changes in technology bring a drastic turnaround in the way businesses operate. Let's wait and watch what the NFC holds in store for us.
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