NFC technology, contactless payments future

Hope you are watching the advertisement on TV or youtube, in which people paying bills just by hovering their credit card on POS machine. Banks like ICICI in India launched this type of cards where NFC( Near field communication ) technology is used.

Lets understand NFC, two devices here one is credit card and other is POS terminal/ Card swipe terminal, when they come close to each other, few milimiters away, the data transfer happens i.e. payment transfer gets executed.

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