As contactless technology embeds itself into the fabric of everyday transactions all over the world, numerous industries are fine-tuning integration of this latest payment technology into their operations.
Employee Badges: Organizations all over the world are using contactless technology to verify individuals’ authenticity before granting access to a restricted facility, computer system, or electronic device.
For example, a government employee might be required to use a “proximity” card in order to enter a secure facility. Where that employee might have once swiped a magnetic stripe card through a reader, she can now use a contactless card that is more secure and allows her to pass through the access control gate more efficiently.
Or a financial institution might have employees processing sensitive client information. If an employee steps away from his computer for a coffee break, a proximity device he is wearing might trigger his computer to perform a system lockdown until he returns.
Public Transportation: Planes, trains, buses, automobiles, and even shared bicycle services are implementing some form of contactless technology. In fact, multiple citywide transportation services now employ contactless payment methods and many more are making the move to contactless, allowing riders to carry one less card in their wallets by effectively rolling the transit card into the bankcard.
Your local retailers: Before you know it, most, if not all, of your payment cards will offer a contactless option. And once mobile companies and handset providers hash out the best and most efficient way to use mobile payment via contactless on your mobile phone, we will see thousands of mobile payment applications for every possible retailer emerge.
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- What is Contactless Technology?
“Contactless” refers to technology embedded in a personal device — typically a mobile phone, key fob, credit card, or access card — that transmits your data to another device from a distance of a few inches in order to complete a transaction. Transactions involving data transfer have traditionally involved plastic cards with a magnetic stripe or
- What Security Benefits Does Contactless Technology Offer?
Contactless technology offers many benefits, including faster and easier transactions, versatility to be incorporated into various personal devices including mobile phones, and improved data security over the magnetic stripe technology. According to the Smart Card Alliance, “Contactless smart card technology includes strong security features optimized for applications involving payment and identities. Every day tens of millions
- 5 Things To Know About Contactless Payment
Contactless payment, also known as NFC or near field communication, is a technology that allows electronic devices to communicate wirelessly. In the case of a mobile wallet application, those devices would typically be a mobile phone and a point of sale terminal at a checkout counter. (NFC has other uses beyond credit card transactions: it
- Are Contactless Payment Methods Secure?
“Contactless,” in this context, refers to the use of a wireless device. A payment is contactless when, instead of inserting your credit or debit card, you hold your card or keychain device within a few inches of the terminal, and your payment information is sent and processed wirelessly. Contactless payments offer a faster and more convenient
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Mobile payments generally involve three participants: the mobile device, the merchant, and a financial service provider or trusted third party. That trusted third party, or TTP, is an established, reputable fiduciary entity accepted by all parties to an agreement, deal, or transaction. A TTP authenticates and authorizes users in order to secure a payment transaction, and
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