I. Introducing contactless technology- contactless
The standard EMV chip technology in supports of contactless payments is very familiar to us in nowadays. It increases the safety of card transactions and makes transactions more conveniently and modernly than cash payment.
Contactless technology is launched on the basis of EMV technology, it makes transactions faster, more simple and secure for customers and opens up a new opportunity to promote the transition of payment habits from cash to electronic payments.
Contactless payments use radio frequency to make a connection between contactless payment card and the contactless terminal device upon light contact (tap) or close together without swiping or inserting card into the card reader.
Transactions use contactless technology therefore take place faster, more convenient for customers. Cardholders simply tap card or place the device within a range of 2.5 to 4cm and the payment can be processed. Merchants save time and increase the number and volume of transactions.
* How it works
Visa paywave’s contactless payment technology allows customer to pay by simply waving cards or card readers.
II. Type of cards use IVB contactless technology.
The contactless card is a card with 4-line radio symbol located in front of card, next to the EMV chip.
Type of IVB Visa contactless cards: