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This paper presents work in progress to explore the utility of Near Field Communication technology to secure mobile financial services. The objective is to evaluate the potential of this approach as an upcoming technology for mobile cash transactions. The paper argues that Near Field Communication technology offers a feasible solution and can be integrated into a standard cellular handset to turn it into a contactless smart card. The motivation is to create a new secure way for the unbanked to perform financial transactions. A prototype has been developed and tested with participants in a laboratory environment. This paper also reports on preliminary results.
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