What is contactless payment?


What is contactless payment?

Have you been offered the option of making a contactless payment at the till and not known what it is?

Well wonder no more, as we’re here to reveal all in our blog.

It’s a kinda magic

You can make a contactless payment if you have a debit or credit card that lets you do this. Rather than putting your card in a machine and entering your PIN number, you just tap your card and go.

While few would suggest that the card machine option takes an unreasonable chunk of time out of your day, contactless means you can pay for your purchases and go in a matter of seconds.

And you can use contactless technology to pay for more than just your shopping. You can also use it to pay for your commute, for a meal and drinks, and for all manner of other things.

What’s the catch?

Not all places accept contactless payments – although the number that do is growing as the payment method becomes more popular. And not all cards give you this option, but, again, many do. If your card features a symbol like this – )))) – you can use it to make a contactless payment.

However, there is one catch. You can only use contactless to pay a bill that comes to £30 or less. If it’s more than this, you won’t be given the option of making a contactless payment.

Is it safe?

It sounds so easy, but if all you have to do to pay is tap your card, is there a security risk? If your card is stolen, the thief doesn’t need to know your PIN to use it for contactless payments, after all.

Well, if this happens and your card is stolen or if you lose it, contact your card provider straightaway and let them know. You should do this regardless of whether or not it’s a contactless card.

Your card provider will be able to cancel the card so it can’t be used, and they should arrange to deliver you a replacement.

Always check your statement carefully to see if there are any transactions on there that were carried out after you cancelled the card. Because contactless payments are made offline, there’s a chance a couple may go through even if the card has been cancelled. Get in touch with your card provider if this has happened to you.

It’s up to you

Contactless is designed to make your life easier. However, there’s nothing that says you have to use it if you don’t want to.

When you go to pay by card, the vendor should ask you whether you’re happy to go contactless – they won’t just go ahead and do it. If you would prefer to use the machine and enter your PIN, just say so!

If you do use contactless regularly, keep a close eye on your statement to make sure everything’s as it should be. If it isn’t, let your card provider know.

So, now you know what a contactless payment is, it’s your choice whether you take advantage of it.

For the answers to many more financial questions, take a look at the blog – it’s full off useful tips and advice.