Near Field Communication (NFC) is a set of standards for enabling communication between devices when brought into proximity, typically within a few inches. Originating from RFID technology, NFC has evolved through key developments since 2004, allowing for various applications such as contactless payments, data exchange, and automation tasks with minimal setup time and lower power consumption compared to Bluetooth. While NFC offers advantages like convenience and security, its adoption faces challenges due to the need for company agreements and varying standards among financial institutions.