Wireless Communication, Bluetooth, Zigbee And Near Field Communication

As RFID technology evolves and becomes less expensive, there will be an increase in the number of companies and vendors using the technology. Eventually, new applications will be developed and these systems may even be able to solve common or unique problems associated with business in today’s market.

Now it is made possible for you to pay with your phone. When it is time to swipe your card you now have the option to scan your card information of which you have saved from previous purchases through Internet based methods. You can save multiple cards at a time; all you would have to do is choose the card you would like to use. You can also transfer funds from one person to the other, same format as a bank but

Security is an important part of any technology that is developed in the system. The wireless technologies have greater security threats. Similarly, the Near Field Communication technology users also have some security concerns. Information, and authentication security is the two most important concerns of any technology. Let’s list the NFC security threats,

Near field communication (NFC) is an ability available in most modern-day cell phones that allows the device to connect

Wireless is the term used to describe any computer network where there is no physical wired connection between sender and receiver, but rather the network is connected by radio waves and or microwaves to maintain communications (Boyds, 2016). Wireless and mobile technologies continue to have a major impact on the global business environment and can be roughly categorized into mobile client devices for interactivity and communications infrastructure. Wireless technology is technology that uses radio waves to transmit and receive data, such as cell phones. It is used more than ever today for data transmission. Mobile

Technology is quickly evolving and changing our everyday tasks. The next big thing is RFID technology. RFID, also known as Radio Frequency Identification Device, is making it easier for the consumer to pay without swiping their card or without signing. Many already know RFID as pay-pass where you simply wave your credit card over an RFID transmitter to pay for purchases. There are many benefits and cons to this new technology for the consumer and the producer alike.

RFID is a large industry, with applications in identification, payment, access control, and more. In 2014 the world market for RFID was estimated to be US$8.89 billion, in 2026, it is predicted to reach US$18.68 billion (Das, 2017). However, as more uses become apparent and the technology continues to develop it is possible that the industry will grow at an even greater rate than projected. RFID has become more prevalent in modern society due to RFID tags becoming more economically viable; in 2003, a passive tag was estimated to cost $1, while in 2013, it was only $0.10, thus more widespread implementation of RFID is possible, as it becomes less expensive. (Thau, 2017).

Compared to contactless cards, magnetic stripe swipe cards can be easily exploited as the information stored on the magnetic stripe is static. This means it can be cloned onto a fake card, giving it the same credentials and allowing unauthorised use. The low level of security of magnetic stripe swipe cards is also highlighted by the fact that the user merely has to sign after the transaction. Whereas the chip found in PIN

Radio Frequency Identification (RFID) is a technology which makes use of radio waves to recognize devices or persons. In RFID machine is used that look through data carried in a wireless object or tag from an interspace without creating any physical interaction or demanding a line of sight. RFID is working by means of a microchip and an antenna. RFID technic is originated in the 1970s. RFID systems have a variation of applications, containing planning and observing the spot of persons and goods. Customers are probable to interrelate thru RFID network in stores that affix a tiny RFID transponder to manufactured goods, just as a laptop or other gadgets. The RFID transponder contains a chip that has data about the goods, and an antenna

RFID (radio frequency identification) is an new technology that threatens to take the place of bar codes in the supply chain world. The technology uses electromagnetic fields to automatically identify and track tags attached to objects. This innovation can provide many benefits in logistics and may revolutionize the entire industry. But, even though the technology provides many benefits, it also has many drawbacks and may not yet be developed enough to become the industry standard. The technology also may not be beneficial or cost effective for every business and will require a total overhaul of a businesses infrastructure, which can be extremely costly. Furthermore, both bar codes and RFID technology have many pros and cons, also industry may not be ready to implement RFID into their infrastructure.

NFC technology is required to use digital wallet credit card payments for purchases at the check-out counter or for online purchase. There is a passive tag in your credit card that is activated when it comes within 10cm of an NFC initiator device. The NFC initiator is the POS (point of sale) or check-out counter card reader in the store. Most smart phones use NFC so your phone can act as your credit card as soon as you set it up and store the information from your card. Once your phone is set up, all you need to do is hold your phone within 10cm of the same card reader at the store and it will pay for the purchase just like your card.

MasterCard Worldwide has initiative to shift the social consciousness toward a cashless society. Cash means additional expense to create it, distribute it, secure it and destroy it while electronic payments are simpler, faster and safer while offering more value to consumers.

A step further from using internet and near field communication (NFC) for authentication, reliability and convenience using mobile UID’s. One such system platform is PayTM. Using PayTM ’s flexibility in using different modes of payments to highlight benefits of using such a common interfacing technology. Keeping that in mind, business model of PayTM as a reference a common digital wallet interface is a possibility for future use. Within the model the wallet stores the amount in currency units which is used to make payments/purchases online and offline. The amount is credited using the Credit, Debit card, fund transfer or Kiosk payments. Using wallet acts an extra layer for information security, ending need for a payment gateway during the actual transaction as the buffer memory of the mobile device itself stores the information which updates periodically as and when the device connects to the internet, matching transactions with online cloud server. With the wide array of options for connecting to the internet including public, dedicated wifi and data connection it is simple, affordable and much more achievable goal.

Many financial institutions across the world have adapted to the change towards the cashless society by implementing electronic funds transfer via automated teller machines (ATM’s) and of late, the internet. By having a simple plastic card, society could completely eliminate the need for cash. The benefits range from the end user through to the government and the

The data from RFID chip is stored as blockchain. Blockchain technology is in highlights due to its exclusive feature of decentralization and security. Blockchain is managed as blocks where each block contains the checksum of previous block, thus forming a chain, hence called as “blockchain”. These chains are distributed then in the network which ensures the biggest benefit of no centralization to control data. The chains follow proper order and the hash after encryption of previous block is stored with the current block. This continues for all the blocks in chain.The security provided is such that data is tamperproof and fail-proof due to its encryption technique. A blockchain is a decentralized and distributed digital ledger that records transactions across many