If these college kids are sticky an RFID tag to their phones, it is an example of a closed-loop contactless payment scheme, not Near Field Communication (NFC) which involves the integration of RFID into the phone's guts.
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If these college kids are sticky an RFID tag to their phones, it is an example of a closed-loop contactless payment scheme, not Near Field Communication (NFC) which involves the integration of RFID into the phone's guts.