Proximity Mobile Payments: Leveraging NFC and the Contactless Financial Payments Infrastructure

The mobile device can deliver a variety of payment and payment-related services. The mobile device is a powerful new tool that can enable proximity mobile payments, remote payments through the mobile Internet or text messaging, and person-to-person money transfers. Value-added applications can enrich the purchase experience and include account management, banking, offers, and security applications. Mobile payments are payments for goods or services initiated from a mobile phone or similar device such as a personal digital assistant or smart phone.