Near Field Communications (NFC) is a technology that uses a combination of a chip, an antenna and some software to allow devices to communicate when they are close to each other and at a small cost to the consumer.

An example of utilization of this technology is the Diabetes Management device reported by Engadget. Also, Nokia - which has launched for quite some time a NFC shell for some of its models - completed last Spring a trial in Germany “in which commuters could use their cell phones as mass-transit”.

NFC is starting to open up possibilities for a series of applications that could as well bring closer to reality the notion of a digital wallet. That’s the subject of an article by the MIT Technology Review published last week.

With NFC technology, phones could become like mobile wallets, yet with the added ability to swap addresses and share photos. People could also use the technology to download movie trailers from a movie poster, or to get detailed product information in the midst of shopping.

Here’s the link.

Via PSFK