NFC MONEY TRANSFER SPEC ALTERNATIVE TO QR CODES ANNOUNCED

DATE: Fri, Sep 05, 2025
PUBLICATION: MACTech

The NFC Forum, a standards and advocacy association for Near Field Communication (NFC) technology, has released its NFC Money Transfer Candidate Specification (NMT). NMT gives payment service providers and consumers the opportunity to take advantage of the NFC-based payment solutions already in use worldwide as an alternative to QR code-based solutions. The NMT solution improves the speed and efficiency of the payment process by eliminating the need for a camera or scanner used in QR code-based solutions, according to Paula Hunter, executive director, NFC Forum. It provides an open framework which can be easily used by payment service providers to map their already defined data exchange for QR code-based payment solutions with NFC communication.