TrackerPay – Contactless “Touchless” Payments

What is Contactless Payment?

Contactless payments are payment transactions that require no physical contact between the consumer’s payment device and the physical terminal. To make this type of payment, the consumer holds the contactless card, device, or mobile phone close to the terminal and payment information is communicated wirelessly via radio frequencies.
Contactless payments, aka: “touchless payments,” can be made one of two main ways: by a digital wallet or mobile app on a cellphone or other smart device, or by using a touchless payment card.
Contactless payment methods have surged in popularity recently, as they are considered a safer way to pay to avoid touching common surfaces. With only one person handling the payment method (smartphone or contactless card), these payment methods avoid the human contact that is involved with the exchange of cash or with handing a regular debit or credit card. From a security point of view, contactless payment methods are also considered safer than more traditional payment methods.