NFC: Can smartphones become 'smart wallets'?

Near Field Communication (NFC) is a technology which allows small amounts of data to be exchanged when you tap two NFC devices together - or touch one against an NFC tag.

The majority of modern mobile phone manufacturers, with the notable exception of Apple, include the technology - which allows you to make quick payments and confirm your identity - as standard.

The GSMA, which runs the annual Mobile World Congress event in Barcelona, seems convinced this is the year the technology will catch on, with dozens of stands devoted to NFC.

Rory Cellan-Jones spoke to GSMA's Reed Peterson to find out what the fuss is about.