Travel

Digital Wallet in Your Pocket: The Impact of NFC-Enabled Contactless Credit Cards

A NFC-enabled contactless credit card: what is it? Does it function in India? Are Near Field Communication (NFC) cards safe to use? Which precautions do you need to take? Which Indian banks are currently offering NFC credit cards? We will attempt to address these fascinating queries in this blog post. ICICI & SBI, one of the pioneer banks, introduced contactless credit cards in India. On the other hand, You can check direct flights to Kolkata from USA as it will provide multiple affordable options. Numerous NFC-capable contactless credit cards are currently available in India and are provided by:

  • Standard Chartered Bank.
  • American Express (India).
  • ICICI Bank.
  • State Bank of India etc.
  • Citibank.
  • Kotak Mahindra Bank.
  • HDFC Bank.
  • IndusInd Bank.

The list of credit cards that are NFC-based is located at the bottom of this page. Let’s learn a little bit about this new technology first, though. These cards utilize Near Field Communication (NFC) technology. Here are some more apps that make use of the NFC payment system:

  • Google Pay
  • Samsung Pay
  • Apple Pay

What is NFC technology, or near-field communication?

Payouts are processed through NFC technology without requiring direct physical touch. Early on (in 2015), it appeared to be pure magic. Nevertheless, contactless payments are now typical in India thanks to the introduction of Samsung Pay. India is getting ready for contactless payments based on NFC. The infrastructure needed to process NFC-based payments currently needs to be improved. Visit Flyopedia.ca for your festive trip to India from Canada at very affordable flight offers.

What is NFC?

The concept is straightforward: a wireless data transfer occurs between the device (card reader) and the card. Both the card reader devices and the credit card must be NFC enabled. These gadgets can read NFC credit cards at a distance of only a few centimeters (<5–10 cm). There are various cheap flights to Delhi from USA, which will make your journey more affordable and comfortable.

What kind of information is transferred between the card and the reader?

The payment details like:

  • Credit Card Number
  • Expiry Date
  • Name of Card Holder
  • CVV

You can execute the data transfer without requiring internet connectivity. Simply wave a credit card in front of the card terminal (or gently tap it) to execute payments. Moreover, the two NFC devices (reader and credit card) will identify each other using radio frequency (RFID).

Both devices have inbuilt NFC microchips, which help in internet-free communication. All payments made using NFC-enabled contactless credit cards in India must be below Rs.2,000/= (per transaction). Nevertheless, one can make multiple transactions in a day (maximum 4 to 5 per day). In the rest of the world, for such contactless payments, no PIN input is required. So one can just tap the credit card on the readers, and there goes the payment. Traditionally, you must swap the card for higher amounts (above Rs. 2.0K).

Why NFC technology in credit cards?

The primary advantage is that payments are made quickly. To enter a Metro Train without having to stand in line for a ticket is equivalent to using a swap card. NFC-based payments process quickly. How? It is not necessary to pair NFC-enabled devices. Wireless communication between non-NFC devices, such as a laptop and a smartphone, can occur only after pairing.

It takes some time to pair these items. However, NFC devices allow you to make small payments just as quickly as cash payments because they don’t require pairing. NFC-enabled credit cards are not new in the United States, the United Kingdom, or Australia. However, credit card use is steadily increasing in India. Using cards with NFC technology is very practical. As a result, it can’t be long before all traditional contact-based credit cards become obsolete. They will be replaced by contactless credit and debit cards. Furthermore, applications such as Apple Pay and Samsung Pay, among others, will increase the popularity of NFC payments. How? Because users can make contactless payments with their mobile phones. Contactless credit card payments at malls are unimaginably easy to make.

  • Cabs
  • Autos
  • Rail metro
  • Tea shops
  • Toll collection

Using contactless credit cards for payments on these fronts will make life easier.

Cash or contactless cards now make all of these payments. The contactless credit card has the potential to replace not only cash but also traditional swappable credit cards. Why use Apple Pay and Samsung Pay when NFC Cards are available? In 2015, Apple became the first company to introduce contactless payments using their smartphones (US and UK). “Apple Pay” is the name they gave the application. Despite fewer people using iOS, there remains a need to expand contactless payment acceptance. However, Samsung Pay introduced itself in 2016. With Samsung leading the Android device market, contactless payments have become increasingly common. You can check direct flights to Chennai from USA as it will provide multiple affordable options.

Also read: Best Travel Credit Cards that will make your flights more affordable

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