Final answer:
NFC can transfer data safely through the induced magnetic field at microwave frequencies between two coils. It is commonly used in cell phones for contactless payments.
Step-by-step explanation:
NFC (Near Field Communication) is able to transfer data safely by way of the induced magnetic field at microwave frequencies between two coils. The mechanism of interaction in NFC is similar to radio tagging with RFID technology, but with a much shorter range. It is commonly used in cell phones that have NFC capability and the right software to enable contactless payments, where the cell phone acts as a virtual credit card.