What is NFC, Mobile Wallets and Mobile Phone Payments - How it works & need to know things about NFC

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2 жыл бұрын

#nfc #whatisnfc #nfcpayments
What is an NFC? It stands for Near Field Communication and it’s the process of transferring data from 1 device to another. We’ll look at NFC payments in this video on how NFC works.
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[from the script]
So first off, what is NFC?
It stands for “Near Field Communication”and very simply, it facilitates the transfer of data (or information) from one NFC-equipped device to another.
You can transfer payment data as well as general information such as contact details or pictures and videos.
NFC is a communication technology similar to a radio frequency or bluetooth, except it’s designed exclusively to work ONLY within a specific limited range…. And in practice it’s often about a 4 inch range or less!
The vast majority of NFC use, involves a mobile phone, and since we’re talking about payment data in this video, we’ll apply this to the transfer of a credit card payment that is stored on the mobile phone inside of a mobile wallet, to the credit card terminal or point of sale device.

Пікірлер: 69

@Bancardsales 2 жыл бұрын

Do you accept NFC and mobile wallets at your business? Let me know in the comments if your customers ask you about using mobile wallets. -Brian

@Michele-mn3rd 5 күн бұрын

Who cares my phone never works

@KevinLee-qp4pk Жыл бұрын

The best simple explanation out of all the videos I've seen about this subject.

@Bancardsales Жыл бұрын

Thanks Kevin! Glad to hear that and thanks for watching !

@SteelerY360Nation Жыл бұрын

I downloaded the Google Pay/Wallet app on my Samsung Galaxy A11 phone, & found out that it does not have NFC 😡😭At least I got to learn about the Technology, and its history by watching your video! Thank You!!

@mrflimpam5948 4 ай бұрын

"About 160 EUR" - gsmarena, cheap ahh phone

@289cobra9 Ай бұрын

Motorola One 5G Ace with NFC and Google Wallet. Next time learn about a phone before buying it.

@megha6691 Жыл бұрын

thank u for very simple explanation

@jayashreesaravanan392 Жыл бұрын

Informative

@JerDog1984 2 жыл бұрын

Great info. Thank you sir!

@Bancardsales 2 жыл бұрын

Glad it was helpful! Thanks for watching!

@LonelyBadshah Жыл бұрын

Very useful and knowledgeable video 📷📸

@Bancardsales Жыл бұрын

Thank you and thanks for watching!

@sonammaheswari3367 Жыл бұрын

Good nyc

@ScreenRafa Жыл бұрын

The info is very useful thankful

@Bancardsales Жыл бұрын

Glad it was helpful!

@thephilosopher5799 2 жыл бұрын

Yeah most that do this use Apple/Samsung/Google Pay. I always pay with Apple Pay nowadays when I go somewhere, as a minor who doesn’t use a credit card or wants to directly use their debit card.

@paulwanjau4347 2 жыл бұрын

thanks very insightful

@Bancardsales 2 жыл бұрын

Thanks for watching! -Brian

@mastanchinna1083 Жыл бұрын

Great info thanks

@Bancardsales Жыл бұрын

Glad it was helpful!

@AarushiJain-ej2bk Жыл бұрын

Nice one

@Bancardsales Жыл бұрын

Thanks 🔥

@worldhackgaming Жыл бұрын

Knowledgeable

@Bancardsales Жыл бұрын

Thank you and thanks for watching!

@RaiHimanshu-pt4df Жыл бұрын

Good information

@Bancardsales Жыл бұрын

Thank you and thanks for watching!

@sathwik768 Жыл бұрын

Thanks for the explaination

@Bancardsales Жыл бұрын

Thank you and thanks for watching!

@suleimansuleimans 4 ай бұрын

PLEASE WHA ABOUT IF MY CELLPHONE DON'T HAVE THE NFC INSTALL NEITHER MOBILE WALLET

@MH-gi7ze 2 жыл бұрын

Are you bullish on Clover Finance? Thanks.

@deepanshigarg8362 Жыл бұрын

good content 🎉

@Bancardsales Жыл бұрын

Thank you and thanks for watching ! 😃

@korruptcontent954 3 ай бұрын

Is it safe to leave on all the time?

@carolinagomez7415 6 күн бұрын

If I lost my pho e, can anybody use my credit card in my wallet?

@siddhantdahivalkar67 Жыл бұрын

Nice 👍

@Bancardsales Жыл бұрын

Thank you and thanks for watching!

@ajitvikrambhargava8824 Жыл бұрын

Can you make a video on how digital wallets work??like the whole process internally, which systems are involved and all.

@Bancardsales Жыл бұрын

Thanks for the suggestion. I'll add it to the list. Stay tuned! :) 👍

@ajitvikrambhargava8824 Жыл бұрын

Sure, looking forward to it.

@YenYen-gu3ky 3 ай бұрын

is this available in philippine?

@language-n-learning Жыл бұрын

That was very informative! Thanks. 🙏 BTW, what software did you use to make it?

@Bancardsales Жыл бұрын

Thanks Jeff!. Lmk if there's any payment questions I can answer for you. My videos are produced with Adobe suite of products (premiere/after effects)

@language-n-learning Жыл бұрын

@@Bancardsales Thanks for the info. If I think of something, I'll send you a question. :)

@chagoriver7159 9 ай бұрын

if a business already has terminals that accept payments with a regular contactless credit card, are they automatically gpay ready? or do they need a new spcefic terminal to process these type of transactions?

@Bancardsales 4 ай бұрын

Yea the terminal and the software in it needs to be contactless and mobile wallet enabled.

@saktisamantaray4338 Жыл бұрын

Nice

@Bancardsales Жыл бұрын

Thank you and thanks for watching!

@YenYen-gu3ky 3 ай бұрын

available in philippines?

@289cobra9 Ай бұрын

Use my Google Wallet all the time.

@nainstefan Ай бұрын

bro explaine for both costumer and seller in under 10 minutes

@user-bn2wy7bh1b 9 ай бұрын

What happens when the phone is lost?

@289cobra9 Ай бұрын

Do you lock your phone?

@CheyenneMostly-tp5lx 4 ай бұрын

It’s OK

@babushkaboi420 Жыл бұрын

Can you be more technical?

@kevinhatchett2021 Жыл бұрын

So if someone steals your phone all they have to do is wave your phone and buy, buy, buy, bye money..

@Kameron-The-Crafter Жыл бұрын

Nope

@loogoos4894 Жыл бұрын

NFC payment methods on phones require biometric authentication to authorize the payment through the NFC chip.

@joelbigc3540 Жыл бұрын

@@loogoos4894 what about debit/credit cards? Still not safe. In India, the Reserve bank made a policy of setting one-time passwords (OTPs) to customers' phones when the payment is initiated. This is much safer I feel.

@loogoos4894 Жыл бұрын

@@joelbigc3540 most NFC on physical cards are efficient by means of how fast the transaction occurs. The same process for a phone card is used on physical cards for NFC transactions. It is technically less secure since the CCN and CCV are on card. Usually though most banks issue cards that have cards which have the CCV and CCN on the back of the card.

@markusTegelane Жыл бұрын

Every such solution requires you to unlock the device before making any payment ;) (tho some small payments are possible with a locked screen depending on security settings and region) Also, disable NFC any time you complete a transaction.

@CheyenneMostly-tp5lx 4 ай бұрын

It’s OK very OK oh it’s very OK it’s OK it’s very OK