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Contactless Payment

 

Contactless Payment allows consumers to complete transactions quickly and securely without inserting or swiping a card. The cardholder simply taps their contactless card or enabled device on the merchant’s point-of-sale terminal to pay. This contactless tap transmits payment data using short-range wireless technologies like near-field communication (NFC). By not requiring physical handling or contact between devices, contactless payments offer convenience along with built-in security features such as cryptogram protections and risk-based prompts for PIN entry or customer verification.

Contactless payments are characterized by quick and seamless transactions, making them particularly popular for small-value purchases. Security features such as tokenization and transaction limits further safeguard contactless payments. The widespread adoption of contactless technology reflects the evolving landscape of electronic payments, offering a user-friendly and hygienic alternative to traditional card insertion or swipe methods.

 

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