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When it comes to daily financial transactions, convenience is essential. Contactless Credit Cards address this need by offering a fast and secure payment method without the need to swipe your card. But what exactly is a contactless Credit Card, and how does it work?
What is contactless payment?
Contactless payment is a secure method of purchasing goods or services using RFID technology or near-field communication (NFC). You don’t need to enter a PIN for transactions up to a certain limit, making the process faster than traditional methods.
What is a contactless Credit Card?
A contactless Credit Card is designed to facilitate contactless payment. It contains an embedded chip, enabling it to communicate wirelessly with contactless-enabled payment terminals. By simply tapping your card near the terminal, you can complete transactions instantly, eliminating the need to swipe, insert or even enter a PIN for smaller purchases.
How contactless Credit Cards work
1. Hold your card close to the contactless symbol on the payment terminal.
2. The terminal reads the card’s chip using NFC technology.
3. The card and terminal exchange encrypted data to verify the transaction.
4. Once approved, the transaction is finished within seconds.
How to use contactless Cards
1. Look for the contactless symbol on the payment terminal.
2. Hold your card near the symbol for a few seconds.
3. Wait for a confirmation signal such as a beep, green light or checkmark.
Contactless payment security
- Limited range: Transactions require the card to be within 2-4 cm of the terminal, reducing accidental or unauthorised payments.
- Transaction limits: In India, you can spend up to ₹5,000 without a PIN, minimising potential loss from theft.
- Two-factor authentication (2FA): Higher-value transactions require PIN or OTP for added security.
- Card deactivation: You can quickly deactivate lost or stolen cards via the bank’s mobile app or customer service.
Benefits of contactless Credit Cards
- Transactions are completed in seconds, reducing checkout time
- PIN is not needed for purchases up to ₹5,000
- Unique, encrypted data for each transaction and a limited card range minimise the risk of unauthorised use
- Rewards, cashback and discounts from many banks
Are contactless cards safe?
Contactless Credit Cards use advanced encryption technology and require close proximity to the terminal, reducing the risk of unauthorised transactions.
Wrapping up
Contactless Credit Cards offer a fast and secure way to manage daily transactions. Choose from Axis Bank’s range of Credit Cards to gain access to features such as contactless payment, enhanced security and exclusive rewards. Enjoy seamless transactions and additional perks with Axis Bank Credit Cards.
Also Read: Credit Card eligibility: Check eligibility criteria for Credit Card application online
FAQs
Can my card make accidental purchases near a contactless terminal?
No, it's highly unlikely. Contactless terminals require the card to be very close (within a few centimetres) and properly aligned, making accidental payments rare.
How can I check if my card or device supports contactless payments?
Look for the contactless symbol (a series of four curved lines) on your Credit Card. This indicates that your card is equipped for contactless transactions.
Where should I tap my card to make a contactless payment?
Tap your contactless Credit Card near the contactless symbol on the payment terminal, which is usually clearly marked where you would typically insert or swipe your card.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
