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NFC is the acronym for Near Field Communication, or nearby communication field. This is one of the new technologies that will emerge in 2011.
adapted to smartphones, it will enable different forms of interaction between these devices and other machines. For example, it will be possible make payments for purchases just by touching your cell phone to machines similar to those used for credit/debit cards, eliminating the need to load the latter.
Still, it will be possible pay for vending machine products (such as candy and soda machines), with the same procedure: putting your cell phone close to the machine, and confirming the order.
See some of these examples in the videos below:
Apparently, this technology will be present in smartphones like the future iPhone 5 and Nexus S, Samsung-Google.