In the last two decades, the payments processes changed from cash to atm cards, debit cards, credit cards, etc., all these methods of payments have their own advantages and drawbacks. Today we are going to learn about Contactless Payment, introduced by Radio Frequency Identification technology (a wireless use of electromagnetic fields to transfer data).
The benefits of this new system is that payment at stores becomes faster for retailers and shoppers too. This works well for signature capture devices and other payment machines which work with pin numbers. You don’t have to scramble for precise change, sufficient cash and above all it provides you with complete security as you can stay out of using credit cards and 4 digit passwords.