Scan to Pay - The Secured Method for Contactless Payments (2024)

FAQs

Scan to Pay - The Secured Method for Contactless Payments? ›

Scan to pay is a simplistic, swift, and secure way of making payments by quickly scanning a QR code using your smartphone's camera. Quick Response (QR) codes are a type of barcode that can be read by a variety of devices to access payment channels, Wi-Fi networks, and informational pages.

In terms of security, Apple Pay is supported by NFC technology, an acronym for Near-Field Communications. This means that your payment information can be transferred simply by placing your phone near the contactless reader, and information is highly encrypted to ensure your data stays safe.

Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near-field communication (NFC) for making secure payments.

Contactless Payment Security

EMV chip technology and Dynamic Data Authentication (DDA) enhance protection against fraud. Each contactless transaction generates a unique cryptographic code, ensuring card authenticity and preventing unauthorized use.

Recognising the contactless symbol

Keep an eye out for the contactless symbol—a set of four curved lines that echo the familiar Wi-Fi icon. You'll find this symbol on the back of your card and on compatible payment readers, signalling where the tap-and-go magic happens.

Question of the Day: What is the #1 contactless (mobile wallet) payment method? Answer: Apple Pay. Apple Pay 77% of mobile wallet transactions. Samsung Pay 17% Google Pay 6%

Because contactless payments require neither PIN nor signature authorisation, lost or stolen contactless cards can be used to make fraudulent transactions.

To pay in stores using your phone, you'll need to make sure Google Pay is downloaded and set up on your phone first. Get the Google Pay app on your Android phone. It only takes a few minutes to set up Google Pay on your phone. You'll need your credit or debit card info handy to get the app set up.

Contactless payments are touch-free with no need to type in your PIN or hand over your card. Simply touch your card to the reader, listen for the beep, and your payment is securely processed.

Sometimes called “tap and go” or “tap to pay,” contactless payments are up to 10 times faster than other forms of payment. Credit cards connected to devices like smartphones or smartwatches provide an alternative form of contactless payment using the same technology as contactless credit cards.

Can your card information be stolen from tap to pay? ›

Theoretically, a criminal could get close to you and use an NFC skimming device to steal the information transmitted by your card. However, even if crooks were able to pull this off, experts say the data they'd glean wouldn't be enough to enable a fraudulent transaction in your name.

Loss or theft: the main risk involving contactless payment is the loss or theft of a card. After all, someone up to mischief could use it to make purchases without any need for a PIN.

Unlike Tap and Pay, which requires specific NFC hardware, QR codes may be generated and displayed using existing devices, lowering the barrier to entry for retailers. Enhanced security: QR payments provide an emphasis on security as well.

Popular examples of contactless payment systems include Apple Pay, Google Pay, and Samsung Pay. These platforms allow you to pay by tapping your smartphone or smartwatch on a compatible payment terminal. They use NFC technology to transmit payment information securely.

Tap to pay can be safer than paying with a credit card chip or debit PIN. When you insert your chip or enter your information into a credit card reader, that information can be copied or hacked. With tap to pay, your contactless debit card or credit card never makes physical contact with the card reader.

Google Pay, Apple Pay, and Samsung Pay are strong contenders in this area. Apple has outpaced all other comers in in-store contactless payments.

Apple Pay is safer than using a physical credit, debit, or prepaid card. Face ID, Touch ID, or your passcode is required for purchases on your iPhone, Apple Watch, Mac, or iPad. Your card number and identity aren't shared with merchants, and your actual card numbers aren't stored on your device or on Apple servers.

It all depends on your needs, but currently, according to experts in this area, the two most secure are Apple Pay and Venmo. Choose whichever you please to use, but remember to take precautions to ensure security when using each platform.