Contactless payments are a modern way to pay without using cash or swiping a card. They use a technology called near-field communication (NFC), which allows devices to communicate when they are close to each other. This method is touch-free and can be done using a card, smartphone, or other devices. The card or device has a chip and antenna that send payment information to a point-of-sale terminal when near it. When you make a contactless payment, your card or device creates a unique code to start the transaction. This code is sent to a network like Visa or Mastercard, which checks for fraud and verifies the transaction. If everything is okay, the network sends the request to the card issuer, who checks for any issues like a stolen card or low balance. If all checks are clear, the transaction is approved in just a few seconds. One concern with contactless payments is the risk of misuse if your card is lost or stolen, as no extra authentication is needed. To stay safe, report lost cards immediately and check your statements for any unusual activity. Skimming, where thieves capture your card details, is another risk. Use protective sleeves and be cautious of suspicious devices. Always keep your card in sight during transactions and regularly monitor your account.
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Understanding Contactless Payments

Contactless payments are a modern way to pay without using cash or swiping a card. They use a technology called near-field communication (NFC), which allows devices to communicate when they are close to each other. This method is touch-free and can be done using a card, smartphone, or other devices. The card or device has a chip and antenna that send payment information to a point-of-sale terminal when near it.

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