NFC is an emerging technology that combines RFID and mobile devices to allow communication between devices within 4 centimeters of each other. It operates at 13.56 MHz and can transfer data up to 424 Kbits/sec. NFC has applications in mobile payments, access control, transit payments, social networking and more. While not supported by iPhone 5, NFC is driving mobile payment revolution and a new marketing ecosystem of location-based offers and interactions between physical objects and mobile devices.