Can't Wait for New NFC-enable iPhone, Here's the Solution

We know Apple is going to launch NFC-enable iPhone in the future. Maybe iPhone 5 or iPhone6. However, if you want the NFC solution for your iPhone to accept credit card payment. Here is the solution.

Canada based Payfirma offers a complete solution for mobile payment including NFC and regular card swiper. Some of interesting features includes:

• Sign receipts right on the device
• After the sale, it can deliver eReceipt via email directly to customer's e-mail box
• It's PCI compliant and secure. No credit card information is stored in the device. 

This new version of payment app can allow business to access real-time transaction reporting with daily, weekly, and month-to-date sales keeping merchants on top of their business. Each transaction is tagged with the location of the sale, so merchants and their customers can see their transactions on a map, right on their mobile device. This gives small businesses a new set of business intelligence to improve their sales and also increase security.

Here is the video from youtube

Microsoft Filing NFC Patent for Mobile Payment Service

Microsoft filed a patent application for "Mobile Wallet and Digital Payment" service last September. Tom's Guide reported

The filing covers a "method that facilitates securing a wireless digital transaction" for "at least one of a good or a service." Microsoft refers to mobile devices that "can include at least one mobile payment card (m-card), wherein the m-card is created by establishing a PKC-secured link to an account associated with a form of currency." The link between a mobile device and a terminal is created via near field communication (NFC), Bluetooth, Wi-Fi, or RFID. 

Microsoft's "m-card" feature is similar to a virtual credit card whose data is transmitted to a payment terminal using upon request. Only a portion of the m-card is sent to and received by the payment terminal, which will then be authenticated the organization that issued m-card and associated it with "at least one of a bank, a credit card company, an investment fund, an online brokerage, a web site, a business, a company, or a financial institution." To authorize a transaction, a user may have to press "a physical input button that can initiate a password entry, a payment, or a password entry completion."