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Visa’s NFC Coming This Fall

Visa is following through with its promise last week of a new mobile payment system. The company will be creating a mobile wallet that uses NFC wireless technology with the credit card’s firm payWave app to buy items in stores as well as online. Some of the banking institutions already onboard with near-fields communication technology include Barclaycard US, Pentagon Federal Credit Union, and US Bank, as well as most major Canadian banks.

Visa wanted to let its users know that the payment system wouldn’t be limited to those who own a Visa. Buyers could also use a special sign-in for a different account system rather than putting banking information. Owners could also merge multiple payment systems and control how the payment system behaves.

Visa reminded citizens that security would be more advanced in the future with dynamic authentication to make sure the online order was legitimate. The NFC service will launch this Fall in the United States and Canada and will be a revolutionary time for man kind when the service launches. You’ll be telling your grand kids about a plastic credit cards one day and they’ll have a hard time imagining a world without NFC. Just as we have a hard time imagining a world without computers.

Photo Courtesy of twenty5pics
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