A customer using a contactless payment option with NFC will simply hold their phone near the contactless payment reader or tap their credit card with an RFID chip on the reader and the transaction is completed. A contactless payment doesn’t transmit card information, but rather uses a token to stand in for the credit and debit card numbers. In some cases, if the customer is using a mobile wallet, a touch ID, PIN, or face ID on the device will be required. For the business, the payment is processed as any “card present” transaction would be.
Contactless payments using major credit cards and NFC are widely understood to have the same security as any other credit card transaction.
For contactless transactions utilizing a QR code, a bit more manual entry is required. Typically, the customer scans the QR code at the business, enters in their payment amount, and the payment is transferred. They’d then show the payment to the merchant, who would proceed with the sale. This method may require more training and information on the part of the staff. It also requires an internet connection.
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