Five Things You Should Know About Contactless RFID Credit Cards
Below is a MRR and PLR article in category Finance -> subcategory Credit.
Five Essential Facts About Contactless RFID Credit Cards
Understanding Contactless Credit Cards
Traditional credit cards use magnetic stripes to store data, requiring physical contact with a reader during transactions. In contrast, contactless credit cards use a chip and radio frequency identification (RFID) technology to transmit data wirelessly. When the card is near a special reader, the chip's antenna activates, allowing the transaction to proceed.
Advantages of Contactless Credit Cards
Contactless credit cards offer speed and convenience. Simply wave the card over the reader and, for transactions under $25, there's no need to enter a PIN or sign a receipt. Since the card remains in the user’s hand, it can also be more secure.
Potential Disadvantages
Some argue that contactless cards pose security risks due to the potential interception of radio transmissions. However, the transmitted data is encrypted and unique for each transaction. Cardholders are also not liable for unauthorized charges, just as with traditional cards.
Where to Use Contactless Cards
Contactless cards from Visa, American Express, and MasterCard can be used at select retailers across the U.S., including 7-Eleven, McDonald's, and CVS Pharmacy. Look for the contactless symbol at checkout. These cards can also be swiped like regular magnetic stripe cards.
Providers of Contactless Credit Cards
American Express offers contactless features with their Blue and Blue Cash cards, and also provides RFID key fobs. Chase, partnered with MasterCard and Visa, offers Chase blink cards.
Explore the convenience and ease of contactless credit cards and experience quicker transactions without sacrificing security.
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