NFC Payments

byPaytm Editorial TeamLast Updated: August 12, 2025

Meaning

The full form of NFC is Near Field Communication. NFC Payments use this short-range wireless technology to make contactless transactions by tapping a card or smartphone near a payment terminal.

Key Points

  • Works within a few centimeters
  • Fast and convenient for small transactions
  • Secure with encryption and tokenization
  • Commonly used in retail and transit systems

Author

Paytm Editorial Team

The Paytm Editorial Team is a collaborative group of writers, editors, and industry experts. We're dedicated to bringing you the latest insights, news, and guides on digital payments, financial services, and the technology that's shaping India's economy. We offer easy-to-follow guides and insights to help you explore Paytm’s products, features, and services. Our goal is to provide clear, reliable, and helpful information to empower you on your financial journey.

You May Also Like

Rooftop Solar SchemeNovember 3, 2025

Definition The Rooftop Solar Scheme encourages individuals and institutions to generate their own electricity.Overview This scheme, also known…

Divestiture: Meaning, Reasons & Example Last Updated: October 17, 2024

Introduction to Divestiture Divestiture refers to the process of a company selling off, liquidating, or bankruptcy. The management…

Voice-Based PaymentsLast Updated: August 19, 2025

Meaning Voice-Based Payments use speech recognition technology to make transactions through spoken commands. How It Works Users give…

MediclaimLast Updated: November 14, 2025

Definition Mediclaim is a type of health insurance policy that covers hospital expenses if the insured person is…

UPI LedgerLast Updated: July 16, 2025

Definition UPI Ledger is the digital record of all UPI-related transactions within your app, including money sent, received,…

Term LoanLast Updated: December 12, 2025

Meaning A Term Loan is a type of loan that must be repaid over a fixed period through…