NFC Fuels Norway Mobile Ticketing, Cashless Society

Sharing, paying and transactions—these are the three units that govern the NFC dynamics. And NFC is the centrifugal force that fuels the race within the mobile payment platform.

With its immense potential, NFC is now being tapped by Norway to replace and enhance their ticketing system in transportation. In an official statement, Norway’s Minister of Transport and Communications Magnhild Meltveit Kleppa said, “[The] use of mobile phones as an electronic ticket will make it even easier to use public transport,” said the minister. “We must have in place a national standard for mobile ticketing, so we have a payment system that works the same all over the country. There are many players heading in the same direction, and I have confidence that the industry will serve as a good partner for this work. The goal is to make it more attractive to use public transport, where customers can easily use the same ticketing and payment systems across the country.”

Seems like everyone is craving for a piece of NFC and the money-making feature it carries. In 2009, the United Kingdom saw a great advantage of the national ticketing project using NFC and save a whopping £2bn. Today, several companies in varied niches are leveraging NFC technology.  After a series of debates and testing sessions of NFC, Google has finally unleashed their mobile wallet service. This particular service will enable people to make purchases through mobile payments that will require you to tap your mobile phones against designated terminals.

With this mobile wallet initiative, the search giant is now heading to the retail and banking sector. In line with this, Android Apps will make use of NFC. Visa was fast to respond and released their version of digital wallet in US and Canada. But, before Visa and Google launched their products, American Express has already explored the mobile payment scheme months ago and is ready to compete in the arena. Another contestant goes by the name Amazon, which is also looking at NFC to join the most lucrative mobile expansion. Apple Inc. will definitely not let this chance pass by their fence easily. Their adoption of the NFC technology was a clear attempt to catch up with Google’s. RIM will also be completely replacing the entire Blackberry portfolio with improved devices and every single unit shall contain NFC.

The NFC technology has not only lured enterprises to try out and amass revenues. Stanford researchers were also struck by this practical business application and plan to bring NFC into reach of social apps.