Contactless payments also known as tap-and-go payments are gaining popularity. More and more merchants are offering this service by implementing near-field communication (NFC) technology which allow point-of-sale transactions to be processed without swiping or inserting a card into a terminal.
Contactless Payments
A contactless payment, as the name suggests, doesn’t require any physical contact between the buyer’s smartphone or credit card and the merchant’s point-of-sale terminal. Transactions take place over a specific radio frequency that enables the card or smartphone to communicate with the payment reader when they’re placed close together.
Benefits of contactless payments
Contactless payments improve convenience, speed, security, and ease of use at the point-of-sale.
- Easy and convenient to use – instead of swiping or inserting the card, it is simply held in the proximity of the payment terminal. There is less chance that the card will be lost or forgotten during the course of the transaction, since it never leaves the customer’s hand.
- Safety and security – in addition to the benefits of contactless technology, most cards also incorporate chip technology. Chip technology provides protection through encryption and dynamic data technologies. This can actually be safer and more secure than other forms of payment.
- Flexibility of alternate forms – contactless technology is increasingly available to consumers in other forms, such as mini-cards, stickers, key fobs and even mobile wallets that turn contactless-enabled phones into payment devices—reducing the need to carry a physical wallet at all.
Acceptance
Tap-and-go payments are accepted at any terminal that displays this symbol 
. Experience the speed, simplicity, and security of contactless payments today at merchants that accept contactless payments, including fast food restaurants, grocery stores, pharmacies, and more.Pacific Service CU has started issuing new, redesigned Visa debit and Visa Platinum Rewards credit cards that include contactless payment technology. All existing cardholders will receive contactless cards by the end of May 2020.
