The Evolution of NFC Technology: Revolutionising the Payment Landscape

Near-Field Communication (NFC) technology has been around in various forms for nearly 70 years, with its first origins tracing back to World War II as Radio Frequency Identification (RFID). However, it was not until 2002 that Sony and Philips co-invented the modern NFC technology we know today.

NFC has become a staple in payment technology, thanks to companies like Samsung and Google Pay utilising it for contactless transactions. This versatile technology operates on a wide range of mobile devices and enables friction-free transactions for payment-making and taking. But how does NFC work exactly?

NFC enables short-range communication between two devices, including smartphones, wearable devices like smartwatches, transportation card readers, and touch payment terminals. Both devices must have NFC integrated, with one acting as the 'transmitter' and the other as the 'receiver', and vice versa.

While NFC has established itself as the preferred technology for making payments through smartphones, recent payment regulation shifts have also allowed smartphones to receive payments. With payment engines like Dapio developing technology for fintech apps and vendors, Tap to Phone payments are on the rise and are poised to become a payment technology staple for SMEs worldwide.

Through facilitators like Dapio, Tap to Phone, also known as SoftPOS, enables end users to accept Pin-on-Glass payments without needing external connecting devices - just a smartphone and an app. This innovative approach allows business owners to bypass physical terminals, representing a significant leap in the payment space.