This is why you generally have to insert, rather than swipe, any chip-equipped card.

Earlier this decade the card networks (chiefly Visa, Mastercard, and American Express ) essentially forced retailers to include EMV chip reading capability in their readers. Do I need a contactless card?įor now, the answer is no.

Although consumer take-up is also sluggish with this form of transaction, it’s catching on and some people are getting accustomed to it.Īs usual with technology, familiarity will breed adaptation. Apple Pay, Samsung Pay, Chase Pay, etc.). This is the technology behind “the Pays” (i.e. On top of that, today’s smartphones are equipped with contactless payment capability. Monster credit card issuer Chase, for one, now features contactless technology in six of the cards it issues. And issuers have increasingly been supplying the plastic for them. Estimates vary, but it seems that around 3 million card readers across the country are contactless. These are some of the main reasons why Americans aren’t proximity paying very much.īut many of us have the means to. Tradition dies hard, adaptation is never easy for users, and most readers lack the components necessary for contactless transactions. Contactless cards have become the norm in many markets abroad they are common in Canada, certain nations in the European Union, and Australia. economy has been relatively slow in the take-up of payment card technology. The contactless credit card future is here Now when I say near, I mean near - a contactless card will only work when a few inches or less away from the reader. When near enough to a contactless reader, the card’s details are read, and the purchase is closed. Let’s first answer the question many holders of more traditional cards have: What is a contactless card (or “tap and pay,” as some issuers put it)?Īs it says on the label, a contactless card transacts by simply being in proximity to a card reader the two “communicate” through short-range wireless technology. But is it poised to be the future of credit card transacting, or merely an occasional convenience for a chosen few? What is a contactless credit card? No more inserting or swiping - a contactless card promises a rapid, tap-and-go future. Also, even the best inserters and swipers might not perform these actions correctly, necessitating at least another pass in the reader.Īn elegant solution to this problem is the contactless credit card. This is a relatively long process given that so much commerce these days is done nearly instantly.

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