Contactless technology allows you to make fast and secure payments by simply tapping your card on a contactless enabled point of sale device without using a pin. This is made possible by an embedded chip in cards which emits radio waves. An antenna is built into the plastic to secure the connection with a contactless reader. This is known as radio frequency identification (RFID) technology. What are the advantages and disadvantages of contactless payment systems and transactions?
- Tapping to pay is faster and convenient. This technological innovation makes it possible for a customer to pay without even removing the card from the wallet.
- When tied to a smart phone, such as the Google smartphone, contactless technology offers many features such as remote deactivation, virtual card provisioning as well as further room for innovation.
- You can make contactless payments by using a mobile phone or smart watch.
- The chip, set in contactless cards, is almost perfect protection against intruders, providing the maximum security against potential theft of funds. Unlike magnetic strips, built-in microprocessor keeps your details in a fully encrypted form.