Although a PureWrist bracelet can function without the use of a mobile phone by including a secure element certified chip inside the card, it is important to understand what NFC is. NFC stands for Near Field Communication.
It is the way a device transmits data through radio waves. Simply put, it’s a method of wireless data transfer that detects and then enables technology in close proximity to communicate without the need for an internet connection.
No pairing code is necessary to link up and because it uses integrated circuit chips that run on very low amounts of power, it’s much more power-efficient than other wireless communication types. What you are seeing today in modern society with mobile devices Apple Pay, Android Pay, Samsung Pay and anything that is enabling a merchant transaction with a “tap” to a hardware reader is NFC technology.
At a financial technology conference called Money 2020 in October 2015 legendary and extremely successful venture capitalist Vinod Khosla shared his thoughts on NFC in his Keynote. He predicted and believes that in 3-5 years NFC method of transactional in store payment will be the frontrunner for behaviors in alternative payment. In simple terms the swipe of a card or insertion of a card will be replaced by the TAP of a card, bracelet, or mobile device.