Contactless payment

Uncommon card · No. 172269

Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near-field communication (NFC) for making secure payments. The embedded integrated circuit chip and antenna enable consumers to wave their card, fob, or handheld device over a reader at the point-of-sale terminal. Contactless payments are made in close physical proximity, unlike other types of mobile payments which use broad-area cellular or Wi-Fi networks and do not involve close physical proximity. EMV (abbreviation for Europay, Mastercard, and Visa) is a common standard used by major credit card and smartphone companies for use in general commerce. Contactless smart cards that function as stored-value cards are popular for use as transit system farecards, such as the Oyster card (London, UK) or RioCard (Rio de Janeiro, Brazil). These can often store non-currency value (such as monthly...

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