Contactless Payments and NFC Technology: Here’s How It Works
Written by: smm
It’s become ever easier to use cashless methods to pay for goods and various services. This is also because NFC technology entered the picture.
NFC stands for Near Field Communication which doesn’t involve any contact between the card and the terminal. This technology allows for data exchange between devices that are located from 0 to several centimeters away from each other. Here are some of the NFC usage options:
#1. Payment card
If your card has a special icon showing four brackets positioned one after the other and increasing from left to right, you can make payment by simply holding your card next to the terminal that has the same icon. Contactless card payments are absolutely safe and secure.
In this day and age, loads of phones support NFC and you don’t even need to have your bank card with you at all times. You can make payments with mobile data turned off, too.
#3. Smartwatches and bracelets
To meet clients’ needs and save precious time as much as possible, NFC modules integrate with all sorts of gadgets, be it a smartwatch, a fitness bracelet, or even a ring your bank card connects to. The payment procedure is similar to the one involving a smartphone.
When you make a payment with your smartphone, bracelet, or another device, card tokenization is used to ensure data safety.
It is still the same card you have but all of its details and other confidential information on a mobile app are protected to the greatest extent possible. What is being transferred is a special code created for each payment and not the actual bank card details.