What is it and how does it facilitate credit card payments?

According to the National Commission for the Protection and Defense of Users of Financial Services (Condusef), “from January to September 2017, 4.8 million claims were registered for possible credit and debit card fraud; that is, 28% more than in 2016, whose figure was 3.7 million ”.

This alarming figure has forced banking institutions to implement new security mechanisms focused on the protection of users and their financial information.

One of the responses to insecurity and identity theft has been the application of new technologies in Credit and debit cards. A clear example of this is the incursion of banks into the payment model contactless.

The use of contactless is the best security measure for your credit card | Photo: Unsplash

Contactless, what it is and how it works

Contactless, whose meaning in Spanish is “without contact”, is a new way of paying with your credit or debit card that does not require introducing your plastic into a sales terminal.

The new cards, without exception, have this type of technology. It works by means of radio frequency signals or NFC that allow the transmission of payment information from the chip of your plastic to the sales terminal with the simple fact of approaching your card to the payment device.

This is the icon that indicates if your card has contactless technology | Photo: Unsplash

In this way, you prevent establishments from having direct contact with your card and the data contained in it. To make sure your card has the technology contactless, you must check that it is printed the sign that refers to the radio frequency signal.

Namely, it is made up of four vertically stacked curved lines. They resemble the Wi-Fi signal icon on your cell phone. If you don’t see these lines on your card, contact your bank directly to request information about contactless payment.

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