ABSTRACT
One of the older relationships that existed from the beginning of the earth is the relationship between the Payer and Payee. In this chapter, we have presented a review of the use of NFC-based system for Internet of Things (IoT)-based payment architecture. The basic overview of the NFC and IoT is elaborated. All the sections in this chapter can be divided into three parts. In the first part, we have provided some basic overview and protocol of NFC technology for IoT applications. In the second part, we have reviewed some customer problems that can be solved using NFC-based payment system and some latest developments to overcome the same. Some methods and process are suggested on which the researcher community can work to develop an IoT-based payment system using NFC. In the last part, we have presented some basic security concerns that one must consider while developing an NFC-based payment system. Some basic models are proposed by which threats and vulnerabilities may be reduced.
