The current pandemic has had a major impact on not only what consumers are buying, but how they are purchasing them. As more consumers are concerned about the health and safety of themselves and others, they have adopted using contactless payment methods.
These payment methods are seen as a more convenient and safer option than traditional payment methods. Contactless payments work by utilizing a type of radiofrequency called NFC or near-field communications.
When a customer taps or waves their device over the terminal, card details are encrypted as well as provide a unique digital signature for each purchase. For more information about this new payment method, check out the infographic below.