Near Field Communication, NFCis one of the latest short range wireless communication technologies. NFC provides safe communication between electronic gadgets. NFC-enabled devices can just be pointed or touched by the users of their devices to other NFC-enabled devices to communicate with them. With NFC technology, communication is established when an NFC-compatible device is brought within a few centimetres of another i.e. around 20 cm theoretically (4cm is practical). The immense benefit of the short transmission range is that it prevents eavesdropping on NFC-enabled dealings. NFC technology enables several innovative usage scenarios for mobile devices. NFC technology works on the basis of RFID technology which uses magnetic field induction to commence communication between electronic devices in close vicinity. NFC operates at 13.56MHz and has 424kbps maximum data transfer rate. NFC is complementary to Bluetooth and 802.11 with their long distance capabilities. In card emulation mode NFC devices can offer contactless/wireless smart card standard. This technology enables smart phones to replace traditional plastic cards for the purpose of ticketing, payment, etc. Sharing (share files between phones), service discovery i.e. get information by touching smart phones etc. are other possible applications of NFC using smart phones. This paper provides an overview of NFC technology in a detailed manner including working principle, transmission details, protocols and standards, application scenarios, future market, security standards and vendor’s chipsets which are available for this standard. This comprehensive survey should serve as a useful guide for students, researchers and academicians who are interested in NFC Technology and its applications [1].