{"id":2163,"date":"2021-12-28T17:42:29","date_gmt":"2021-12-28T17:42:29","guid":{"rendered":"https:\/\/vixtechnology.com\/?page_id=2163"},"modified":"2024-04-10T14:25:44","modified_gmt":"2024-04-10T13:25:44","slug":"what-is-contactless-payment","status":"publish","type":"page","link":"https:\/\/vixtechnology.com\/what-is-contactless-payment\/","title":{"rendered":"What is Contactless Payment?"},"content":{"rendered":"\n
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Contactless payment <\/h1><\/div><\/div><\/div>\n\n\n\n
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Consumers world over are demanding contactless payment in everyday transactions, including for transit fare on buses, trains, and paratransit. Many service providers may still have questions about what contactless payments are, how they work, and whether they’re secure. We’re here to help.<\/p>\n\n\n\n

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What is Contactless Payment?<\/h2>\n\n\n\n

Contactless payment refers to several methods of receiving and processing payments with technology that enables \u201ctap\u201d payments or mobile wallet payments using a mobile phone or bank card. These payment methods are considered contactless because they can process with just a few millimeters between the card and the processing unit.\u00a0<\/p>\n\n\n\n

The payer does not need to hand anything into the payee’s hands. The transaction is completed entirely on the payer’s side.<\/p>\n\n\n\n

In transit, riders “tap in” to the system with their devices at the start of their trip. Some transit systems require riders to “tap out” at the end of their trip to calculate the overall fare for their journey, while others are tap in only.<\/p>\n\n\n\n

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How does contactless payment work?<\/h2>\n\n\n\n

Contactless payment technology<\/a> works in two main ways. One is with the \u201cchip\u201d in a credit or debit card. The second way is with an app or \u201cmobile wallet\u201d built in to a smartphone.<\/p>\n\n\n\n

With chipped cards, which now make up the majority of consumer’s credit and debit cards, we see the fusing of RFID (radio frequency identification) technology with NFC (near-field communication). These work together to allow users to \u201ctap\u201d their card\u2014or hold it very closely\u2014on the payment processor as their payment information is transmitted in a secure, wireless format.<\/p>\n\n\n\n

Mobile wallets like ApplePay are also gaining tremendous traction among consumers thanks to the ease of storing credit or debit card information on their smartphone. ApplePay has also launched a built-in Transit Card to serve as a digital pass for transit systems across the world.\u00a0<\/p>\n<\/div>\n\n\n\n

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Are contactless payments secure?<\/h2>\n\n\n\n

Whether consumers use their chipped card or a mobile wallet, they can rest assured that their transaction is secure. The data is encrypted and a dynamic card verification system ensures one-time use codes. In fact, NFC technology is so secure that the United States Department of State uses it for ePassports. The three major credit card companies\u2014Visa, American Express, and Mastercard\u2014have all encouraged the shift to contactless payments as they actually reduce fraud and its associated costs, which can run into the billions each year.<\/p>\n\n\n\n

Find out what makes contactless payments safe and secure<\/a>.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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What are the benefits of adopting contactless payments for transit?<\/h2>\n\n\n\n

Speed, safety, and convenience are the core benefits pushing contactless payments to the forefront of everyday transaction options.<\/p>\n\n\n\n

Contactless payments drive performance on several key metrics important to any transit agency:<\/p>\n\n\n\n