Credit Card Glossary: Terms and Definitions
Confused by credit card terms? CreditCards.com's glossary of credit card definitions will help. From account holder to Regulation Z, we have defined the most-common and most-confusing credit card terms.
- Near Field Communication
- Near Field Communication (NFC) is a wireless technology that allows data to be exchanged between two different devices -- say, a cellphone and a credit card terminal -- from a short distance away. If your phone has NFC, when you hold it near a properly equipped terminal, the phone and the terminal communicate, and the terminal communicates with a remote computer to approve payment.