The NFC Forum has released its NFC Money Transfer Candidate Technical Specification (NMT) for all NFC-enabled devices, including smartphones, readers, and tags. The specification is compatible with existing open-loop and closed-loop NFC-based payments. The NMT operates by holding a smartphone in proximity to a reader or other NFC-enabled device without preselection of a payment app by the user, a task required when making QR code-based payments. In addition, there is no need to open a camera, aim the camera, and scan a QR code. The NFC Forum also says the NMT provides users with better s...