NFC stands for Near Field Communication is relatively new technology which allows two devices with the NFC chip to send and receive data. For the transfer to work the devices have to be closed pretty close almost 5cm apart from each other. NFC is new and is available only a couple of devices. But it has been sited that by the end of 2012 majority of the device will be coming with NFC chip in them.
What you can use NFC for? Well NFC opens up a variety of uses. Most importantly it paves the way to DIGITAL WALLET. You can make transactions just by using your mobile whenever you go for shopping. No need to carry your cards and wallets. NFC can also be used to transfer files between phones also. It uses very low power and also provides high speed of transfer. NFC was first introduced to the commercial phone via Samsung Galaxy S2. But apart from that only the recently released Galaxy Nexus has NFC capability and no phone thus far released has the NFC installed.
In some places NFC already has been found to be put under use. So if you’re one of the mobile owners who are miffed on missing out this amazing technology then do not worry because a chip manufacturer Device Fidelity and Spring Card have developed MONETO.
Moneto is the alternative solution to not having an NFC chip on your device. Moneto is designed like a micro SD card which has NFC chip built into and it will allow you mobile payment system.
Procedure For Setting Moneto
- Install the microSD card.
- Set up the NFC antenna for better NFC signal reception
- Install moneto app from the android market
- Your ready to go.
The card comes with $10 preinstalled. The company device fidelity has already added support for number of phones and they will be continuing to update their chips support for a number of phones.
The moneto mobile payment solution is powered by MasterCard Paypass technology so you can use a prepaid mastercard to reload your balance and since its powered by Master card pay pass you can make purchases with your phones at any places where they support mastercard paypass technology. You can make the payment with just a simple tap which is very simple and high tech and not to forget will also make you look cool.
The microSD card can be used with all android devices and also IPHONE. Yes IPHONE which doesn’t support microSD card can also be used with the purchase of a patented IPHONE protective casing that comes with microSD card installed. So IPHONE users can now also enjoy the goodness offered by NFC.
The NFC moneto chip can easily be reloaded with balance whether be via prepaid card or through direct deposits from your bank account. They have offered all kinds of flexibility to the consumers so that they are not stuck when they run out of credits.
The Moneto microSD card chip will be available at Q2 of 2012.