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Demystifying contactless payments – How are they benefiting you?
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financialexpress.comContactless payments are a secure method of paying digitally. One can simply tap a debit, credit, smart card or any other contactless-enabled device to a POS terminal equipped with contactless payment technology, to complete payment.
Sujay Vasudevan, Head of Cyber and Intelligence Solutions, South Asia, Mastercard, says, “Contactless payments use radio frequency identification (RFID) technology and near-field communication (NFC) that enable touch-free transactions. Its no-touch experience technology replaces cash and allows customers to pay using their cards, smartphones or digital wallets.”
Contactless payments, experts say, make checkout easier, and they are faster than fumbling with cash along with being seamless and secure, hence, the
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