A contactless payment transaction enables users to avoid the physical implementation of cash or credit cards. Instead, it relies on wireless methods such as RFID technology. Debit cards, credit cards, and even some smartphones are capable of supporting this technology. Users will place their card or smartphone near the near POS terminal. After this, the transaction can be completed.
Several restaurants in New York accept cashless payment by using contactless payment technology like RFID and NFC. This process uses a microchip reader for restaurants in New York for secure payment transactions. Contactless card Payments use Radio Frequency Identification (RFID) technology to transfer information from a debit or credit card’s microchip to a POS terminal. Mobile Payments involves Near-Field Communication (NFC) technology, which enables you to pay a restaurant bill with your smartphone’s mobile wallet by simply hovering your phone over a card reader device.
Contactless payment is a wireless financial transaction in which the customer authorizes monetary compensation for purchase by moving a security token near the seller’s point of sale (POS) reader. Popular security tokens for contactless payments include microchip debit or credit cards and smartphone digital wallet applications. Contactless payment systems in New York may also be referred to as touch-free, tap-and-go payments.
How do contactless payments work?
Contactless payment cards and certified mobile devices have an implanted RFID microchip, transponder, and antenna. To make a purchase, the customer needs to be close to the microchip reader device. Neither Google Pay nor Apple Pay process or approve transactions. Instead, they tokenize the buyer’s payment card and only pass that detail on to the appropriate credit/debit card network.
Microchips always generate a new verification code each time when the debit/credit card or POS device is used in a transaction. This method is very different from how magnetic line cards transmit data. When an old-style magnetic card is swiped, the buyer’s invoicing detail is transferred to the card reader device each time the card is swiped. That information could be stolen and used by someone else or perhaps sold on the dark web. When a transaction is carried out wirelessly, the only data that can be hacked is the unique authentication data that identifies that the particular transaction has happened.
Since a new code is generated every time a microchip debit card is used be, it is very hard for cyber hackers to duplicate the card and attempt to make a purchase. Dynamic authentication technology is not possible to be copied in a way that would return the same dynamic code that would be returned by an authentic chip card.
Contactless payment is a super secure
Contactless payment systems in New York are not only the convenient for restaurant guests but also secure. Tap and Mobile application payments provide added security as they enable customers to pay their bills without having to hand over their card to anyone, enter a PIN or sign a print receipt.
These methods utilize the most high-level and cryptographic security. This high level of security helps ensure that a contactless card or mobile wallet is never inadvertently charged, as the payment source must be placed within a maximum range of 2 inches of the card reader device for sale. Almost all restaurant accepts EMV cards in New York to accept the bill payment of their guests.
Similar to the microchip credit card and debit card transaction process, each contactless transaction has a unique encryption code that secures the customer’s payment source data. This is the primary reason restaurants offer contactless payments to their customer, which is an excellent way to provide their customers the peace of mind they’ve been looking for over the past few months.
Contactless payment speeds up transactions
It is proved that contactless payments can be finished within 10 to 15 seconds and work twice as fast as a typical card payment. With less processing and handling of cash, transactions are completed more quickly, business is likely to improve, and queues are less likely to form. Since PINs are no longer required and cards need to be tapped on a card reader device for a successful transaction, the workforce behind the cash desk can be reduced, improving customer service, and other areas of the shop experience.
