TapandPay
Tap and pay refers to contactless payment methods that enable a purchase to be completed by tapping a payment instrument near a compatible point-of-sale reader. The instrument can be a physical contactless card, a mobile wallet, or another NFC-enabled device such as a smartwatch. Transactions are designed to be quick and often occur at retailers, transit systems, and vending machines that support contactless payments.
How it works: The payment terminal activates an NFC reader and communicates with the card or device
Technologies and standards: Tap and pay relies on near-field communication (NFC) and follows EMVCo specifications for
Security and limitations: The system emphasizes security through encryption, tokenization, and device authentication. Risks are reduced
Usage and impact: Tap and pay has become common in retail, public transit, and unattended kiosks, offering