NFC = “Not for Commerce”

“EBay Inc Chief Executive John Donahoe often quotes a merchant saying NFC stands for “Not For Commerce” – and dismisses the prospects of Near Field Communication technology used to turn cellphones into mobile wallets.”

Ref: Reuters

NFC is technology that is a solution searching for a problem…  it adds cost to mobile phone designs and will never be ubiquitous for mobile phone users (or for businesses).

This article provides a good overview - http://www.telecoms.com/52005/mobile-industry-still-placing-far-too-much-emphasis-on-nfc/