For Mobile Payments, Near-Field Communication Is Dead on Arrival. This Hail Mary Is Its Only Hope

The future, as they say, is now. Equipped with a Google (NASDAQ: GOOGL  ) smartphone in your pocket and a MasterCard (NYSE: MA  ) enabled cash register at your favorite store, you can purchase your weekly groceries without opening your wallet.

Of course, it won't work if you, like me, use an Apple (NASDAQ: AAPL  ) iPhone. Or if your grocery store hasn't upgraded its point-of-sales system to accept these payments via near field communication, or NFC. 

According to Brandon Workman, a mobile industry expert and writer, this is exactly the reason that NFC is dead on arrival. In the video below, I interview Brandon to get his assessment of the market's reception to NFC, and also to find out exactly what it will take for this tech to make it into the mainstream.

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  • Report this Comment On December 31, 2013, at 3:45 PM, CoyoteMoney wrote:

    Good info guys! Far more concise and to the point than the fifteen minutes I just wasted listening to "Your cash and credit cards may soon be worthless. Here's why... "

    Like most Fools, my time is a limited resource and I appreciate people not wasting it.

  • Report this Comment On January 11, 2014, at 5:12 PM, MadProf wrote:

    Yeah, this was very useful. Since I also just watched a Fool sponsored (typical) blast email: "Your cash and credit cards may soon be worthless…" basically touting NFC technology as the next Intel processor before the PC revolution, I really have to ask: what's the real story here? I wish someone from Fool would explain this.

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