Near Field Communication (NFC) refers to a short range wireless, RFID communication technology. Two devices equipped with NFC technology can communicate and share information when in proximity with one another, without ever needing to launch an application. Craft Silicon’s NFC is a contactless technology that gives instant access to any digital data and information from your mobile device through three different ways:
Host Card Emulation Mode
This is the ‘passive’ mode in which a mobile terminal behaves like a smart, contactless chip serving multiple purposes such as mobile payments. The phone sends the information to the NFC device e.g. a ticket validation kiosk or payment terminal.
In this mode, your mobile plays an ‘active’ role as a contactless chip reader that allows you to read information or trigger actions by simply ‘tapping’ your phone to a NFC tag. The focus is to provide a seamless user experience across channels, both online and offline.
Two-way data exchange between mobile devices, communicating via NFC.
Scalable - A scalable solution with the potential of handling merchant payments, in the future.
Excellent Experience - Tap and pay facilitates a memorable customer experience.
Easy To Use - No need to carry multiple credit cards, simply load them all on your phone to enjoy coupons and reward points that get credited directly into your account.
Benefits to the Business
Anytime remote access to the bank account and services
Traces every transaction and ensures that revenue is not lost
Offers plenty of add-on utilities such as fund raising, bill payments, integration with alternate channels like POS
Easy advertisement portal for news, announcements of new products and services etc.