Photos: Accenture waves goodbye to the wallet

Photos: Accenture waves goodbye to the wallet

Summary: NFC tech the future of payments

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TOPICS: Mobility
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  • NFC tech the future of payments

    The SMS is on the wall for crumpled notes and battered leather wallets as Accenture Technology Labs shows off the future of contactless payments using mobile phones.

    The custom built contactless payment terminal shown here demonstrates how NFC (near field communication) and RFID technology could soon allow phones to pay for goods and services, act as travel or gig tickets and transfer money between bank accounts.

    Photo credit: Nick Heath

  • The technology works by putting an NFC reader and transmitter into a phone that can be linked to a bank, loyalty card system or travel account such as Oyster cards. The phone can then be swiped in front of an NFC reader or another NFC equipped phone, as shown above, to transfer money or credit.

    The phones can also be used to check receipts, balances and transfers, as well to authorise remote transactions, and is compatible with existing banking systems.

    Photo credit: Nick Heath

Topic: Mobility

About

Nick Heath is chief reporter for TechRepublic UK. He writes about the technology that IT-decision makers need to know about, and the latest happenings in the European tech scene.

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