Contactless payment is a modern payment technology that allows consumers to make transactions quickly and securely without the need to physically swipe or insert their . This method utilizes (NFC) technology, enabling cardholders to simply tap their card or mobile device on a compatible payment terminal to complete a purchase.
Transactions are completed in , significantly reducing checkout times, which is particularly beneficial in busy retail environments. The process is straightforward—just tap the card or device, and the transaction is processed, eliminating the need for signatures or entry for small amounts. Contactless payment is increasingly accepted at various merchants, including retail stores, , public transportation, and vending machines.
When a contactless card or mobile device is tapped near a compatible terminal, the terminal uses NFC technology to establish a secure . The payment information is transmitted wirelessly, and the transaction is authorized almost instantly. Many contactless transactions have a limit, beyond which a PIN or may be required for added security. Transactions use encryption and tokenization, minimizing the risk of and protecting sensitive information.
Keywords
connection | restaurants | signature | near field communication | fraud | seconds | pin | cards |
