Contactless Credit Cards: 5 Things to Know
2. After waving the card, a secured connection gets activated due to the NFC technology and then your transaction is validated in a separate chip - source element. Finally, you get a message in your Smartphone stating that your payment is done.
3. This technology enables card holders to make transactions without inserting or swiping the card into the card reader. It doesn’t encourage customers to leave their hands while making payments so that they never misplace the card in a hurry. This provides an additional security to the card.
4. If you don’t find a contactless PoS machine at the purchasing center, you still don’t need to worry. The contactless credit card has the capability to cope up with these issues. You can swipe your contactless card or dip transactions.
5. The NFC technology improves the transaction speed and security over traditional mechanism and these cards can be used as your regular credit cards also. However, these cards are currently issued in only three cities like Mumbai, Gurgaon and Hyderabad.
