NFC - Possibilities and Risks

Near Field Communication (NFC) is an emerging close range, low bandwidth, induction based communication standard. It is already and will be more broadly integrated tightly with modern smartphones, devices and operating systems. Payment services, setup of high-bandwidth connections, information sharing and identity verification become possible by just touching two NFC devices together. This paper tries to give an overview over how NFC technology works, what some of its current and potential applications are and which risks and exploits come along with its simplicity.