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Near Field Communications (NFC) Changes Credit and Debit Cards, Business and Industry Trends Analysis

As the world’s leading credit card organization, Visa’s very powerful brand could lead to rapid growth in mobile payments if it offers compelling services via near field technology (NFC).  Visa’s “payWave” technology enables card holders to pay at the cash register with a wave of a special credit card.   Consumers are alerted to cash registers that use payWave by a unique logo at the register.  They have the option of receiving a printed receipt, and enjoy Visa’s zero consumer liability policy for unauthorized purchases if the card is lost or stolen. NFC is similar to RFID, but can offer the…

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