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Maram Shuaib

on 11 December 2012

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Transcript of wallet

NFC Presented By.. Maram Shuaib.. Near Field Communication It’s a set of close-range wireless communication standards, much like Bluetooth and WiFi, for Smartphone. It's different in that it operates at very slow speeds and only at a short range of just a few centimeters. With an NFC chip and antenna, you can use your Smartphone to make contactless payments at NFC retail terminals, parking meters, taxis and many other places. NFC is extension of RFID (radio frequency identification) which is the use of a wireless non-contact system that uses radio-frequency electromagnetic fields to transfer data from a tag attached to an object. As an example : NOKIA uses NFC to automatically complete the steps of enabling, pairing and establishing a Bluetooth connection when doing a file transfer. Google Wallet What is Google Wallet? Is a mobile payment system developed by Google.
It is a virtual wallet that securely stores your credit and debit cards. You can tap your phone to pay in-store contactless payments and pay online by signing into your Google Wallet account. Does it cost? NO!! It’s available in US. The Google Wallet mobile app uses Near Field Communication (NFC), a secure, wireless connection to transmit payment details to the merchant. How does the Google Wallet mobile app transmit payment details? Google Wallet stores encrypted user information on a chip called the Secure Element. The Google Wallet device must touch or be in close proximity to a MasterCard PayPass reader. The Google Wallet app requires an additional PIN to activate the antenna of NFC chip. Once the transaction is completed, the antenna is turned off. Additional transactions require the PIN to be entered again. Advantages and Disadvantages Advantages of Google Wallet
•Faster to pay for things.
•Very secure.
•Eliminates the need for some to carry around a wallet.
•Easy to use.
•free. Disadvantages of Google Wallet
•Having virtual money source may encourage people to spend more than they have.
•One would have to take his or her phone out more often to pay for things.
•People are more likely to glance over and steal your pin number.
•It’s not usable at every single store. Privacy & Security The Android device itself can be locked with a (PIN) Personal identification number.
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