Mobile Payment
Mobile payment is a payment method. where - instead of paying with cash, cheque or credit cards -a consumer can use a mobile phone to pay for services and goods.

One of the primary modes of mobile payment uses Near Field Communication which enables payment via cell phone. In such a set-up the Point of Sales system ( the payment terminal) emits a NFC signal to a NFC enabled cell phone whereby communication is established, and payment information can be exchanged.

Depending on the size of the business, the upfront investment to support NFC can be significant and possibly cost-prohibitive.
With less than 2% of POS in the US being NFC enabled, this is a major constraint for NFC deployment.

Cardlab NFC technology bridge.
Cardlab has developed a "bridge-device" consisting of an ISO 7810 form card with a dynamic magnetic stripe, which enables communication between any POS terminal and NFC enabled phones.

Detailed description (pdf)