Peer to Peer payments using NFC

Last updated: 20 March 2014

So far Near Field Communications and contactless in general have been viewed as a great way to replace cash for purchasing small value items in places like fast food restaurants, convenience stores, cinemas and the like.

One less well known service is peer-to-peer (P2P) payment and as you can see in the video clip below it could be used by all manner of merchants as a replacement for both cash and regular card payment terminals. Also, as more people become equipped with NFC phones it can also be used to pay friends, family and literally anyone who also has the right mobile (so cheques/checks really will finally become a thing of the past!).

So far, I imagine you’ve not seen anyone do this yet but with actors like PayPal and Google/Android announcing services (via NFC World), it shouldn’t be long before it becomes second nature.



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