None, iPhones already can read (but not write due to lack of apple providing an API for it) NFC tags. This announcement is that Apple Pay will support it as well.
I vaguely remember that Yubikeys with NFC cannot be used with iPhones (only with Android phones) because of some limitation related to NFC tags. So perhaps after this update, it will be possible.
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What are some of the non-payment applications of this new found support?
None, iPhones already can read (but not write due to lack of apple providing an API for it) NFC tags. This announcement is that Apple Pay will support it as well.
Two obvious location-based things that could benefit from NFC: - event registration - punching a time clock
I'd argue that Apple's lack of NFC support effectively stifled any would-be innovators from even exploring the possibilities.
I vaguely remember that Yubikeys with NFC cannot be used with iPhones (only with Android phones) because of some limitation related to NFC tags. So perhaps after this update, it will be possible.
Any kind of “attach this physical device to your application/service/account on your phone”