Soon mobile phone will make revolution in banking sector also. Near Field Communication or NFC technology will allow user to store small value token on their mobile handsets.
NXP Semiconductors has launched the NFC technology in Manchester City and Oyster Card system in London. Soon Nokia is incorporating the NFC technology in its mobile handsets.
According to company, mobile phone will replace Oyster Card through NFC technology. Customer will add the money as token. Whenever mobile is stolen, the money would automatically deactivate. While adding the credit to the phone is PIN protected, so that thief cannot withdraw the money through mobile handset.
Via: Pocket Lint
