All You Need to Know About Contactless Credit Cards!

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What Are Contactless Credit Cards?

  • These innovative cards allow touch-free payments, making transactions quicker and more convenient. Look for the ‘Wi-Fi’ symbol to identify them.

How Do They Work?

  • They utilize Near-Field Communication (NFC) technology, enabling wireless information exchange within a few centimeters.

Using a Contactless Card:

  1. Check the Terminal: Ensure it has the contactless symbol.
  2. Tap Your Card: Hold it near the terminal.
  3. Transaction Confirmation: A green light indicates success.
  4. PIN Requirement: Needed for transactions over ₹5,000.

Advantages:

  • Secure Transactions: End-to-end encryption keeps your data safe.
  • Speed: Faster than traditional methods.
  • Convenience: One-tap payments simplify the process.
  • No Extra Fees: Same costs as regular credit card transactions.

Disadvantages:

  • Low Limit: Transactions capped at ₹5,000 without a PIN.
  • Limited Acceptance: Not all merchants accept contactless payments yet.
  • Risk of Theft: No PIN for small transactions; report lost cards immediately.

Explore the future of payments with contactless credit cards and enjoy the convenience they bring!