The era of contactless payments - Tap and pay

23 November 2022Up Stories
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Tap and you pay... but how?

Tap and pay if you want to make contactless and mobile payments. What do we mean by tap and pay? You just hold your mobile, smartwatch, card or KIT2000 near the POS and you pay. Yes, but how? Want more details? Let's explain to you what we’re talking about.

What are contactless and mobile payments and how do they work?

Since contactless payments entered our lives, billions of transactions have taken place across Europe. You're still wondering how they work? Okay, keep reading.

Contactless payments refer to a payment method in which a contactless debit or credit card with the contactless symbol is help to or tapped on a POS terminal that reads the relevant card, processes the information on it and allows the payment to be transferred.

The technology used for these types of payments is either near field communication (NFC), or radio frequency identification (RFID). Through this type of technology, you just need to place the card, mobile (not the 3210) or smartwatch 2 to 8 centimeters above the card reader, which recognizes the details and allows payment to be processed.

Rapid technological improvements are here to make our lives easier in every area. "Yes, but why am I struggling" you ask. Well, you who asked are a boomer and you find it difficult because the developments are so rapid that when you get used to x technology and we have already moved on to y (maybe even z).

Payments couldn’t be excluded from the developments and now we reached the contactless ones that you can make with card, mobile or smartwatch. In the meantime, if you’re a boomer and you keep reading, do not think that contactless payments are considered the future of payments because the future is already here.

How to make contactless payments?

Debit and credit cards:

All you need to do is make sure that your card has the universal contactless symbol (like all Up Hellas cards) and that the merchant has a card reader that accepts contactless payments. Then you hold the card close to the POS terminal. And voila! The payment has been processed! When we say close, we mean very close, not like how Aunt Koula kissed you in the '80s so as not to wrinkle, nor like how you danced "Wind of Change" with Mary.

Smartphones:

Smartphones are another method for making contactless payments. In fact, with Apple Pay and Google Pay, all you need to do is download the free app, link your card account to your Apple or Google wallet, and just hold your phone close to the reader.

Smartwatches or fitness trackers:

These devices are becoming more and more popular unless you have a Rolex. In this case, you don't have to keep reading because you probably won't replace it with a smartwatch.

With these devices you don't just see your time or your fitness achievements. You can take payments to the next level by connecting your card to these devices and simply using them by tapping at the relevant card machine. The money will be removed from your account, transferred to the merchant and your purchase will be completed. With this option, you don't have to carry your cards with you and you can make purchases on the go without worrying about the security of your card. Unless you have a Rolex, then you will definitely need a card or your smartphone.

Contactless payment security

And if I'm on the subway, I'm wearing a smartwatch and someone holds a POS at 4cm distance? Really now? Did you think about it? We had to brainstorm to write it. That can't happen, and if it could then Ocean 11 would have made it a movie. It can't happen because a smart device or smartphone requires fingerprint recognition, facial recognition or even PIN protection – depending on the device you're using, so you and your money are protected.

If you are a geek and you have come this far, first let us thank you and tell you that the information that goes from the card to the terminal is difficult to intercept. In addition, contactless card terminals operate only in a very small space (2-10 cm) that minimizes the risk of any data interception.

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