RFID stands for Radio Frequency Identification, which is a wireless technology used to transmit information between a tag or label and a reader. RFID technology uses radio waves to transfer data from the tag to the reader. The tag contains a microchip and an antenna, while the reader has an antenna to receive the signal and a decoder to convert the radio waves into data. RFID technology is used in a variety of applications, such as tracking inventory in warehouses, identifying animals, and enabling contactless payments. It is becoming increasingly popular due to its ability to track and identify objects quickly and efficiently.