Contactless payment services 

Did you know that more than half of Americans now use contactless payments? Contactless payment technology helps make transactions quicker, easier and more importantly, safer. Lowest Credit Card Rate is here to help you with all of your contactless card reader needs. Our unparalleled line of technology and contactless payment services are customized to suit your business needs and ensure secure processing.

What is contactless payment?

  • A contactless payment is a secure method of payment that doesn't require any physical contact between a smartphone or credit card and the point-of-sale (POS) terminal

  • The user simply taps or waves their contactless technology-enabled debit, credit, smartcard or other form of payment near a POS contactless terminal. 

  • This type of contactless payment is also known as tap-and-go.

How does a contactless reader work? 

  • Contactless payment and the corresponding contactless reader use radio frequency identification (RFID) technology and near-field communication (NFC).

  • This form of payment doesn't require a swipe of a card, a personal identification number (PIN) or a signature in order to complete a transaction. 

  • When the card or smart device is brought near the contactless payment symbol on the terminal, the cardholder's information is transmitted electronically using information from the smart device or chip in the card. Once accepted and approved, the transaction is complete. 

Is a contactless payment secure?

  • Yes. Contactless payments are secure. In fact, they're more secure than magnetic-stripe cards, which can easily lead to fraudulent charges and identity theft. 

  • A contactless payment is an authenticated payment, and thus, quite difficult to hack. 

  • The data associated with the contactless credit card is encrypted and constantly changing, meaning even if the system is hacked, the data would be virtually useless.

What is a contactless credit card?

  • Many debit and credit cards now have NFC technology built in to allow customers to pay for items by a simple tap or wave of their card. 

  • These cards are known as contactless credit cards.

What are the different types of contactless payments?

  • While physical cards have been the main form of contactless payment for years now, more and more people are using their smartphones or other smart devices to pay for things. 

  • Apple Pay, Android Pay and Samsung Pay all use secure NFC technology to allow users to simply open the app on their device and complete the transaction by holding their device near the mobile contactless payment terminal. 

  • It's important to note that each of these apps require the user to have a secure lock screen in order to make a purchase. Some even use fingerprint and face recognition technology to ensure the purchase is legitimate and secure. 

  • Contactless payment is also available on some fitness trackers, wristbands, key fobs, stickers and more.

  • E-wallet transactions are also considered a form of contactless payments. We have our own e-wallet application so you can process transactions straight from your smartphone

Where can contactless credit cards be used?

  • Contactless payment technology is becoming increasingly popular and popping up in more and more locations by the day. This includes places like bars, cafes, grocery stores, restaurants, shops and even vending machines. 

  • Typically, a sticker or signage at the checkout will indicate whether contactless payment is available at that location

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