Cashless form of payment in which the payment card no longer has to touch the chip or magnetic stripe reader at the EC terminal. Instead, it is sufficient to hold the card or a smartphone with eWallet close to the card reader. Data is usually transmitted by radio, see also NFC. In 2022, already around 80 percent of all card payments at in-store checkout were contactless.
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secupay Payments Glossary
We explain payment terminology from A to Z, including accounting and payment methods.