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Near Field Communication, being an emerging technology, has become an attractive area of research in academics as well as in industries due to its flooding growth and promising applications like short range contactless communication for mobile phone and other devices alike. In this regard, a proper understanding and direction of current research of NFC is to be perfectly maintained for the advancement of knowledge and to reduce the bridge gap between its basic theory and application practice. In this paper, we have proposed a thorough survey on NFC and discussed it in terms of our own visualization. We have found the problems available in the current technology of major industries like Apple, Google, Paypal and proposed some new thoughts to solve those. We also have analyzed the NFC business ecosystem and current / future market trends. In other words, this holistic review with the objective of bringing to state-of-the-art in NFC design provides development of knowledge in this field with future research directions. Keywordsnear field communication; contactless payment; NFC ecosystem; Bluetooth; RFID I. INTRODUCTIONIn the present era, the rapid enhanced development and adaptation of IT is following new novel way of doing business significantly. The enhanced interest on ecommerce to perform business related transactions brought huge improvements, mainly in contactless technology. NFC has become one of the shining and promising technological developments in the recent IT market. Near field communication (NFC) is the technology that allows compatible mobile devices to establish radio communication with each other by touching them together or bringing them into a distance max of 10 cm [1]. It extends the ISO 14443 RFID standard [2]. RFID is the technology that communicates through radio waves between the reader and tag. As NFC works on RFID technology, it also needs an NFC reader(able to data transfer with NFC component) and an NFC tag (the RFID tag).

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