NFC technology allows for short-range wireless connectivity using 13.56 MHz radio frequencies. It enables quick data transfer between electronic devices within 10 cm of each other without needing line of sight. NFC can be used to connect devices, access information from tags, and enable mobile transactions like contactless payments and ticketing. While security and establishing an NFC ecosystem present challenges, the technology has potential applications in payments infrastructure and new use cases involving location sensing and supply chain management.