Cards with contactless payment technology have been issued in Russia since 2008. However, this banking product is not widely distributed among users. To date, about 50 domestic credit organizations issue such cards. Statistical studies provided data on the availability of contactless bank cards in only 2 million Russians.
general information
Financial and credit organizations strive to keep up with the times, so they offer customers a variety of new products and convenient financial services. Many of them are gaining wide popularity, others are proving to be ineffective. Cards with contactless payment technology have proven their reliability and consistency, which is why they are widely used by customers.
A contactless card is a type of plastic card that is used in an access control system, as well as in payment systems. The peculiarity of the card is that information is read by the device without direct contact. An electromagnetic signal is transmitted between the antennas between the card and the receiver. In the financial sector, this technology has gained widespread popularity. In large cities, many customers pay by contactless credit cards. Making contactless payments is possible using various modern gadgets. The article will provide complete information about the features of contactless technology, as well as its undeniable advantages and some disadvantages.
A bit of history
Devices that use such a system are not unusual, so it’s hard to surprise anyone. With the help of such systems, you can pay in shopping centers and various public places. Payments can be made not only using plastic cards, but also using a phone, smartwatch or key fob. However, until recently, no one suspected such a technology.
Contactless technology is quite young, as it began to develop from the 21st century. The first to launch the new VISA and MasterCard systems. A real breakthrough in this area occurred in 2013 in Kazan at the World Summer Universiade. AK BARS Bank has implemented several unique projects using NFC technology. This technology is responsible for receiving data and is used in receivers for wireless data transmission over a small radius. It is used in smart watches, smartphones, tablets and POS-terminals. Users of this system highly appreciated multi-service cards that combined one-touch payment, ticket service, and a loyalty card. Since this banking product is quite multifunctional, the contactless card receives positive reviews.
Technology features
Today, contactless payment technology is used everywhere, but not everyone knows how this system works. The technology is based on the principle of the exchange of electromagnetic waves between the card and the terminal. This allows you to read information from a distance without additional contact and enter a pin code. The RFID standard , which is supported by bank cards, is the most popular way to automatically identify objects. An RFID tag on a bank card includes several microcircuits that process data and an oscillatory circuit.
Due to the electromagnetic signal from the reader, electromagnetic current appears in the antenna and emits a high-frequency signal. NFC always emits an electromagnetic field that feeds the chip on the card for data exchange. The NFC system allows you to determine the physical standard for the interaction of connected devices and a set of protocols. Since the signal exchange takes place at a small distance, the card does not need to be removed from the wallet. If payment is made from a wallet, you need to make sure that there are no other cards with similar technology. Otherwise, payment will be made from the card with which the signal will pass the fastest. A contactless card is becoming more popular, there are different reviews about a bank payment card, however, many users say that this product is simple and convenient to use.
Principle of operation
A special chip with an antenna is built into the contactless bank card, which transmits data about the payment made over the air. In a store that accepts this type of card, a contactless terminal must be installed. To make a payment using a contactless credit card, it is enough to attach "plastic" to the terminal.
Payment takes place instantly, and for the operation you do not need to enter a PIN code (when making purchases up to 1000 rubles). You can issue a bank card in MasterCard (PayPass) or VISA (payWave technology). The first option in the lines of domestic banks is much more common. This banking product is presented in the form of credit, debit, co-branding, classic, premium and standard cards. The terms of service and the purchase price of such a product are determined by the issuing bank.
Terms of use
In order to make contactless payment for goods, you need to make sure that PayWave or PayPass technology is available in the selected terminal. As a rule, logos are glued directly to the terminal, so it will not be difficult for the user to find out about the presence of this technology. The contactless card receives positive reviews about the system, as users claim that payment for the goods takes place in a matter of seconds. The fact of a perfect payment will be reported by the sound signal of the terminal. You should be aware that you do not need to transfer a plastic card to the seller. When making purchases in the amount of up to 1000 rubles, the client does not need to enter a PIN code.
When making a payment using a contactless card outside the country, the amount of the restriction should be clarified with the cashier. Some countries provide for contacted purchases if a certain limit is exceeded. In this regard, the contactless card of Sberbank receives diverse reviews, since not all customers are satisfied with this restriction. Card users may not be afraid of duplication or making a repeated payment. This is prevented by a special exchange protocol. To make a repeated payment, the seller will need to re-type the amount at the terminal.
Technology benefits
Having a general idea of this technology, you can analyze the advantages of it. This method has its strengths and weaknesses.
Among the indisputable advantages are the following:
- Time saving. Payment occurs almost instantly, so the client does not need to count cash and wait for the change.
- No need to enter a pin code.
- Long validity of a plastic card.
- Full use throughout the term.
- High security.
For the reasons listed above, the contactless card receives positive feedback from users, since this tool greatly simplifies mutual settlements.
Technology disadvantages
In addition to the advantages presented, there are the following disadvantages of contactless plastic cards, which you should be aware of:
- The risk of debiting funds from a card in the amount of up to 1000 rubles without a pin code by fraudsters.
- Not at all retail outlets you can find a terminal that reads information from contactless plastic cards.
- Restriction on the possibility of use.
The cost of installing reader terminals is quite high, so not every store can afford to use this technology. In this regard, the cards were distributed only in large cities and large shopping centers. However, this technology is developing rapidly, so over time will lead to a decrease in the cost of equipment and its widespread use. To ensure maximum safety of funds, it is recommended to use covers that allow you to shield the outgoing radio signal. The restriction of 1,000 rubles for a one-time payment causes a negative impression for many users. However, this inconvenience is designed to increase the safety of use, since the safety of funds is of great importance.
Reviews of a contactless bank card are mostly positive, since the benefits presented by using this banking product are more significant than the existing shortcomings. This innovative product offers many advantages not only to users, but also to cashiers. Some reviews of contactless cards report that it is necessary to be careful and prudent, as this will help keep the money safe and sound.
Card Security
The owners of such cards are protected not only from theft, but also from the banal photographing of "plastic". Plastic cards are protected from theft by screaming. The built-in RFID tag contains data on the expiration date, information on the card number. Unlike conventional plastic cards, a product with contactless technology does not store information about the CVV code. Therefore, to perform subsequent operations, a dynamic one-time CVV is formed.
Despite the fact that contactless "plastic" is protected much better than conventional cards, the Russians stole more than 2 million rubles last year. This is due to the actions of scammers who use home-made RFID readers. Attackers read dynamic CVV from cards from visitors to shopping centers. After that, the scammers created their clones and quickly calculated the received money at their discretion in the nearest stores. The deceived cardholders who tried to pay for the purchase faced the problem of blocking access to the account. This is because the system automatically found a previously used contactless CVV. Reviews about the banking system report that if they lose, “plastic” can be blocked, so using this product is no more dangerous than carrying money in your pocket.
Useful Tips
In order to ensure the long life of the card and the safety of funds, the owners must comply with the following rules:
- Do not deform the plastic and the built-in antenna;
- take care of the card and avoid getting liquid on the chip;
- Do not carry a contactless plastic card in readily accessible places for reading by fraudulent devices.
The contactless card receives extremely positive reviews from real users, since many emphasize the convenience of its use. Sellers note that such cards significantly speed up the payment process and increase the throughput of the cash register.
Conclusion
Cards with contactless payment technology are banking products that have a built-in chip and antenna, transmitting data on a completed payment over the air. Contactless payment method is becoming more common for Russians and is gaining great popularity among customers. Contactless card review and reviews presented in this article will allow potential users to create an idea about this banking product. The presented innovation makes life easier for card users.
This tool has many advantages, as well as a high level of security, which is proved by numerous positive reviews about contactless cards. Every year, credit organizations expand the range of banking products and improve them. The contactless card (the reviews and functions are disclosed in this article) has a number of advantages and features.