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iPhone 5 may support Near Field Communication (NFC) transactions

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NFC is way cool. Imagine going to a store, filling up your shopping bags, and, instead of going through checkout, you simply tap your iPhone on a sensor as you leave the store. Voila, the items in your shopping bags are automatically charged to your credit card. And frankly, Apple is a bit behind in this area, with some phones already having this capability.

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