NFC: What It Is, How It Works, And Why Apple's Adoption Of It For The IPhone Will Upend The Payments Industry

Mobile In StoreBIINFC has a real opportunity to power this boom

For years, analysts have said we would soon be ditching our plastic credit cards and start paying with our phones. They would use a radio frequency called near field communication (NFC) to send payments data to compatible store registers. But NFC-based apps like Google Wallet failed to gain popularity.

In a new report from BI Intelligence, we take a look at why NFC is back. Apple has it included it in the new iPhone 6 and iPhone 6 Plus. That’s the catalyst that NFC mobile payments were waiting for. Recent developments on the consumer, merchant, and developer-side are reinvigorating NFC.

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Here are some of the key takeaways:

In full, the report:

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