September 17, 2004
Wave Your Mobile Phone To Pay
Royal Philips Electronics and VivoTech have announced a major initiative to deploy Philips' Near Field Communication (NFC) technology-based contactless payment and promotion solutions in physical merchant environments for the first time, reports PhysOrg.com via Clippings.
"By having NFC as a feature in their mobile phones, shoppers will be able to make purchases simply by waving their phone near a ViVOtech reader device at the checkout that automatically initiates the payment process.
Philips and ViVOtech will combine their unique expertise and technology strengths to accelerate the use of mobile payment and promotion solutions to make transactions quicker, easier, and safer for consumers."
Related:
-- Developing RFID-Enabled Phones - A report by ABI Research predicts that within a few years, as many as 50 percent of cell phones will incorporate RFID chips to enable near field communication.
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