NFC is an internationally standardized technology based on radio frequency identification allowing data-communication over the distance of a few centimeters of up to 400 kBits/s. In this process, the NFC chip does not need an own power supply but is instead powered by radio waves the scanning device is emitting. Nowadays NFC is mainly used for micropayments up to 25 Euro. Most of the new debit and credit cards have a NFC function for contactless payment and most of the card terminals in retail stores are NFC-enabled. Compared to conventional Chip+PIN payment or cash payment, NFC payment is significantly faster.
Moreover, NFC payments are relatively secure since data can only be read over a short distance without an object between the chip and the receiver. In addition to payment transactions, NFC can be used as a contactless key function for buildings or cars as well as for virtual business cards and ID documents.