Saturday, March 30, 2013

What is Contactless Payment

Contactless Payment Systems are credit card, debit cards, smart cards, key fobs or any other electronic devices that use radio-frequency identification for making secure payments. In this technology consumer’s phone are embedded with a chip card which connects with antenna to send and receive wave at the point of sale. This is faster transaction system then debit or credit card. Nowadays the latest Smart phone like iPhone has been using this Contactless payment System.