Business Proposal

Mobile Wallets with Near Field Communication

ECO 561

Mobile Wallets with Near Field Communication (NFC)

Is the World ready for Mobile Wallets? Technology professionals are convinced that soon everyone will be utilizing Near Field Communication (NFC). "NFC is a set of standards utilized by smartphones and other technological devices to establish radio communications with each other by touching them together or bringing them into proximity by a few inches," (, 2014). NFC transactions are to replace traditional transactions - those made with physical currency or cards - by 2020." (Lambert, 2014) Today Smart phones both, android and I-Phones are quickly emerging mobile commerce into the world of business and finance. The NFC technology...