The iPhone 5 Doesn’t Have NFC — So What?

With last Wednesday’s Apple iPhone 5 unveiling, and the recent Nokia Lumia launch, mobile is on top of the media agenda. But as the screen size and connector stories die down, the question of “when will my mobile phone become my wallet?” rises up once again. I’ve read at least a dozen stories about the NFC-less iPhone 5 in the past few days, and my question remains, who cares?

It baffles me why almost everyone uses the terms “mobile wallet” and “digital wallet” interchangeably, and why so many people further constrain the already-limited idea of a mobile wallet by equating it with Near Field Communication (NFC).

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