Research problem statement:
There are a lot of emerging technologies nowadays due to the technological revolution that increased dramatically in the last few years and it will be greater. Emerging technologies are those technical innovations which represent
advanced developments within information technology field. The new emerging trends in technology and new developments in that sector will affect and switch the way we live. As known nowadays, there are many emerging
technologies and so many sophisticated technological trends that deal with people’s day to day tasks and lifestyle. Most of manufacturers who invent these technologies are trying to have their technologies to be embedded in
small devices that easy to carry and owned by most of people like smart phones and tablets and the reason is simply to reach more customers to make more money.
This paper will talk about the near field communication (NFC) a new technology invented in 2004 allowing small mobile devices to exchange data only by touching each other or other fixed devices. The integration between the
NFC and smart phones application made it possible to replace the credit cards to purchase or transfer money in seconds. However, will the NFC be the future of credit cards transactions through mobile technology? Any new
technology has a dark side especially when money transfer or payment transaction is involved. The paper will focus on the limitations and obstacles and some other concerns related to the NFC and the development wheel and
how far this technology can be reliable and trusted when it is used for mobile payments.
Main research questions:
NFC – Is this the future of mobile payments?
Secondary question:
1- How the NFC technology works to make a payment transaction?
2- How far NFC is integrated with mobile devices?
3- Why is the NFC technology needed to replace the use of credit card?
4- What are the security concerns associated with NFC mobile payment?
5- How much NFC technology is vulnerable in term of mobile payment transaction?
6- What are the NFC limitations and challenges?
7- How rapid is NFC technology is developing?
8- How far NFC is adopted by the mobile manufacturers and financial services providers?
9- Is NFC mobile payment a suitable solution for mass market?
Research objectives
1- To know the basics of NFC to understand the risks.
2- To know the scale of NFC usage nowadays.
3- To identify the reasons of using the NFC mobile payments instead of using traditional ways (credit cards).
4- To address the main security concerns of enabling NFC mobile payment.
5- To determine the NFC mobile payment vulnerabilities.
6- To estimate the reliability of NFC technology.
7- To determine the speed and efficiency of the technology inventors and developers hardware and software wise.
8- To find out, to what extend the NFC Payment System will provide a solution to the financial institutes that will lead to a full implementation of this emerging technology and gain the trust of both, customers and financial
organizations.
9- To determine whether the NFC mobile payment systems are in favor of mass market or not.