Speaking at the Business Innovation Forum in Stockholm, Håkan Djuphammar explained to delegates: "A year from now basically every new phone that's sold will have NFC. It's a two-way, bio-directional RFID communication link that makes this device work as a tag or as a reader."
CNET is reporting that Djuphammar then went on to explain that there would be a secure place on the SIM card in your phone which could hold "secure elements" that would allow your phone to take on other roles – such as a credit card, a concert ticket or even your car key.
And while this might open up worries of fraud with many, Djuphammar actually argued it could help in fraud detection by judging if the credit card transaction is taking place in a foreign country for example.
"In some countries there's a lot of fraud with credit cards so therefore it's in the interest of the credit card issuer to be able to match the position of the phone that belongs to the person who has a credit card", he said.
"If the phone's close to where the credit card is used the fraud risk is low but suddenly if the phone moves away from where the credit card is used they can be alerted to check that particular transaction - it's most likely fraud because now the phone and the credit card are separated".
What do you think to NFC? A step towards the future, or a step too far? Let us know your thoughts in the comments section below.