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Near Field Communication Chips are integrated circuits incorporated in mobile devices and products to store information and to control transactions. NFC chips enable transactions based on NFC technology. In addition, NFC chips enable communication between NFC-enabled devices within a radius of about 4 inches. NFC chips facilitate transaction and data exchange without the need to pair devices. NFC technology help save time during payment processing as the transaction is conducted through radio frequency, maintaining every retailers’ transaction requirement. This resulted in the increasing adoption of the NFC chips in various segments.
