Originally Posted by ysss

Yeah, it needs support from:
- financial institutions
- approved by gov't as payment scheme (protected by law)
- accepted by the commercial entities (shops, etc)
- and most of all, accepted by the customers. they need to trust the thing and it has to be designed so it's easy (and beneficial) to be incorporated in to one's daily life.

you can't just spew out a new technology to the market, claim "first!", and expect a "win.".

Originally Posted by Kangal

Not really.
This "revolution" is quite simple to occur (but I'm not commenting on how easy it would be implemented).

1) You top up you iTunes account (Apple's monetary system). You can do this with a "prepaid" voucher (iTunes card) or a link to your credit card (financial institution) - both forms which are in place.

2) You put NFC in the settings, allowing users to toggle it on when they only need to use it (saves battery).

3) The limiting factor is the application of NFC in todays modern-but-not-futuristic-world. The no-brainer choice would be to implement them in vending machines -- already adopted in Japan.

(but there are other possibilities like in nightclub bars, exit gates at train stations, entering certain places like clubs and festivals, going to watch movies ... it could actually be the next evolution, money displacing coarse-trading of materials, credit cards displacing money, NFC phones displacing credit cards).

4) How it works is once you turn NFC on, you scan the device of desire (eg vending machine). Now a page opens on your iPhone with the cost (eg $2.60), the details (Queen St, Gothan City, Coca Cola vending machine), your current balance of your sync'd iTunes account (eg $20) and also a button that says you agree with the purchase / cancel purchase.
Once you hit "Agree", you need to enter your iTunes password. Now either the electronic money would automatically shift into the vending machine's balance - or - you need to swipe the phone to the NFC again for that to happen.

Personally, I rather carry some cash (coins and a twenty), and my credit card, and have iTunes (only via prepaid card) for media for my device(s) .... than to displace my cash/credit card completely inplace for iTunes-NFC-device.