This document discusses Near Field Communication (NFC) technology, which enables secure wireless data exchange between devices in close proximity, primarily for mobile payments. It highlights the adoption of NFC in smartphones and its growing popularity in various regions, while also addressing security concerns associated with mobile wallets. Additionally, the document notes the limitations on reproduction and the company's assertion of rights regarding the information contained within.

1. 1© Copyright Comviva Technologies Limited. 2015

2. 2© Copyright Comviva Technologies Limited. 2015
Near Field Communication (NFC) technology has been around for quite some time, but, until
recently, its usage was limited to contactless smart cards and commuter cards. NFC essentially
refers to high frequency near distance wireless communication technology used extensively in
radio frequency identification (RFID)- based applications. Its working is similar to Bluetooth, as it
allows two local devices to exchange small amounts of data over a secure network.
Most Android phones are pre-equipped with NFC technology and were the early adopters of
Mobile payment when Google started using NFC technology for this purpose in 2001 with the
launch of the Google Wallet. Apple’s Passbook application enabled with NFC technology is
available in the iPhone6 and 6+ and offers the same mobile payment service.

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It allows two devices equipped with NFC technology and placed a few centimeters from each
other to exchange data. To use the service, the mobile payment application on has to be
launched on the handset, the smartphone has to be tapped in front of the checkout terminal,
thus enabling the NFC connection between the smartphone and the terminal. The terminal will
then ask the customer for the unique PIN, passcode or even their digital signature which could
be in the form of scanning their finger for the transaction to be processed.
Once the transaction is approved, the amount gets automatically debited from the customer’s
wallet once validated by the Secure Element, another chip that works to relay the authorization
back to the NFC terminal.

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NFC technology is a way to the future when smartphones will replace physical wallets as a
means of payment. By storing information related to the credit card and debit card in your mobile
wallet, the risk associated with carrying multiple credit and debit cards is eliminated. Early
concerns about security and privacy of information have been mostly unfounded as all
transactions carried out using a mobile wallet, whether it is NFC based or cloud based are
protected by a unique PIN or password or digital signature. Even if the customer’s mobile is
stolen, there is very little risk of losing confidential information as the mobile wallet service can
immediately be disabled.
NFC payments are already in wide use in South Eastern countries like China, Korea and Japan.
Meanwhile, markets like the US and Europe are picking up rapidly and new service offerings are
being launched everyday to get over early consumer reluctance.

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Disclaimer
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Technologies Ltd (the Company).
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document is intended for the use of prospective customers of the Company Products Solutions and or Services for the sole purpose of the transaction for which
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process of continuous development and improvement.
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omissions. The Company will, if necessary, explain issues, which may not be covered by the document. However, the Company does not assume any liability of
whatsoever nature , for any errors in the document except the responsibility to provide correct information when any such error is brought to company’s
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losses that might arise from the use of this document or of the information contained in it.
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