NFC Money Transfer Candidate Technical Specification

The NFC Money Transfer (NMT) Specification defines the functions that enable two NFC Forum Devices to transfer money – such as passing money to an individual or paying a bill in a convenience store. This specification defines Money Transfer (MT) protocols, the corresponding message structures for those protocols, and the NFC Forum Well Known Types used in those messages.

The NMT Specification gives payment service providers and consumers the opportunity to take advantage of the simple and secure 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. 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. The specification works between all NFC-enabled devices such as smartphones, readers and tags.