NFC chips

A lot of talk about NFC chip. Nokia will make all phones with NFC, Google Wallet also based on NFC. I want to quote what smart people are saying about it.

Jack Gold from J.Gold Associates: "NFC is just now being put into some phones and ... it takes time to build a critical mass. In the meantime, displaying a barcode on a device's screen is relatively trivial and can be done on almost any smartphone, and no hardware upgrade is needed. No special chips are required and it's almost as convenient for the end user."

"Long-term, NFC will be important, but I don't see anyone betting the farm on NFC for the next couple of years. The NFC reader at the point of sale is not the issue. It's getting the critical mass of enabled phones that's going to determine how quickly NFC becomes an important payment method. That takes time."

Bob Egan of Sepharim Group: "Retailers get excited by technology when, and only when, it can enable at least one of three things: Reducing fraud, raising sales or lowering costs, bottom line, NFC isn't going to matter much until retailers understand how to create value."

In addition I think payments business will need to join NFC.
And of course, HUGE piece consumer adoption. I cannot see my wife using her phone. It does not produce airline miles like out CapitalOne card. And my favorite restaurant takes cash only ...