Another Boon For NFC? (S, NXPI, QCOM, VZ, T)

According to a report from Bloomberg, Sprint S is going launch a mobile payment plan ahead of Verizon Wireless VZ, AT&T T and T-Mobile. The Overland Park, Kansas-based company is currently working with payment networks and handset makers on near field communications, NFC, on the technology. NFC allows consumers to tap their phone or wave it in front of a reader and pay for their purchases that way. Sprint's vice president of product platforms, Kevin McGinnis, was very positive in comments to Bloomberg. "We intend to make this an open solution where consumers can use their phone in a variety of physical locations,” said McGinnis. “Because we're allowing other brands and other institutions to participate, they can also tell their consumers that this is available on Sprint." If NFC takes off as many expect, Sprint could benefit from it, as it would take a share in revenue from sales of coupons sent to handsets or targeted advertising, according to McGinnis. The other major beneficiaries are the NFC chip makers, Qualcomm QCOM and NXP Semiconductors NXPI. Google GOOG, Apple AAPL and other handset makers and software makers are currently working on NFC handsets and services for consumers. Google and Samsung teamed up to release the NFC-enable phone, the Nexus S, which is set for release later this year. NFC has been bandied about as the biggest thing in payments since the credit card, and if NFC really takes off, NXP, Qualcomm, and other NFC pure plays will stand to benefit the most.