Paying with your phone will become even more practical: here's why you won't take out your credit card anymore

© Unsplash/Jonas Leupe

Thanks to the NFC technology that equips our smartphones, it is possible to make payments via mobile, with a simple tap with the payment terminals. And this functionality proved very practical during the health crisis. But NFC technology can still be improved. And in fact, the NFC Forum, the group that manages this standard, is working on a new version called “NFC Multi-Purpose Tap”.

This forum wants to develop a new NFC technology which will be able to manage several transactions on the same tap. It’s as if today’s NFC is a one-lane road, while Multi-Purpose Tap is a highway. And, concretely, this will allow the payment services installed on our smartphones to offer new features. “Consumers and retailers value the security, reliability and convenience of contactless payments. Also imagine saving loyalty points or getting your receipt on the same instant tap. The potential to perform multiple functions and link services together is limitless”, says Mike McCamon, executive director of the NFC Forum.In theory, for example, it should also be possible to combine payment and identification, or age verification, in a single action.

Still at the concept stage

Unfortunately, this technology still needs to be developed, so that it arrives on our smartphones and payment terminals. The NFC Forum has just presented the concept. But this already gives us an idea of ​​how the Multi-Purpose Tap will revolutionize mobile payments.

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“For Multi-Purpose Tap to reach its potential, we need to understand and detail the range and diversity of use cases that will benefit from it. To achieve this, we encourage all stakeholders across the NFC value chain, from payment acceptors and terminal manufacturers to loyalty programs and ticketing providers, to contribute to the development of this technology and ensure their future ambitions are met. taken into account”, indicates the executive director of the forum.

In any case, this forum will be able to rely on the support of important tech players, to develop this technology. Indeed, the board of directors of the NFC Forum includes representatives from Apple, Google, and Qualcomm (specialist in chips for Android smartphones).

Otherwise, We also remind you that in Europe, the NFC module of the iPhone is no longer reserved for Apple Pay, for mobile payments. Therefore, if Apple adopts Multi-Purpose Tap when this technology is available, this development will also benefit other payment applications.

• Thanks to NFC, our smartphones can already replace payment cards
• But this technology can still be improved, and the NFC Forum is working on a new version called Multi-Purpose Tap
• This new version will be able to manage several “transactions” on just one tap
• But for now, this is still a concept that needs to be developed
• Apple and Google are represented on the NFC Forum board of directors

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