As our world continues to become more digital, Terrabank's cards are now equipped with contactless technology. Contactless payments have emerged as a reliable and secure way to manage financial transactions. This now popular payment method streamlines the checkout process and enhances security, ensuring your funds remain protected.
What is Contactless Payment?
Contactless payment allows consumers to complete transactions by tapping a contactless card or mobile device over a payment terminal. Tapping to pay utilizes short-range wireless technology to facilitate secure transactions between a contactless card or a payment-enabled mobile or wearable device and a contactless payment terminal. To make a payment, simply tap your card or device near the Contactless Symbol, and your payment will be sent for authorization.
Whether using a debit or credit card, smartphone, smartwatch, or other device, the technology behind these payments remains the same. Purchases are processed quickly and securely with a simple tap, removing the need to insert a card or enter a PIN for most transactions.
The Benefits of Contactless Payments
The adoption of contactless chip technology offers several advantages, making everyday transactions more convenient and secure. Some benefits include:
- Faster Checkouts: Integrating your contactless debit or credit card into a mobile wallet allows you to make quicker payments directly from your smartphone or smartwatch.
- Enhanced Security: Since your card stays in your hand during the transaction, the risk of skimming or cloning is greatly reduced. Each purchase is encrypted with a unique code, ensuring that sensitive financial information remains secure.
- Increased Convenience: Contactless transactions minimize the need to handle cash or touch payment terminals, promoting a safer and more convenient shopping experience.
A Smarter and Safer Way to Pay
Contactless payments are not just a technological innovation—they mark a transformation toward a more secure, efficient, and convenient way to transact. You can tap to pay at millions of places around the world, wherever you see the Contactless Symbol. In countries like Australia, Canada, the UK and France, over half of retailers currently accept contactless payments. If tapping to pay is not available at a location, you can simply swipe or insert your Visa contactless card at checkout.
By embracing our contactless technology, you streamline your payment experience and enhance your financial security. The next time you make a purchase with your Terrabank credit or debit card, simply tap and go, confident that your transaction is fast, protected and effortless.
If you enjoyed this blog post or want to learn more about opening an account with Terrabank, please visit www.terrabank.com and chat with our team online to explore more and learn about the Bank’s forward-thinking products and programs.
Source: “Tap to Pay – Learn about Contactless Payments.” Visa, a Trusted Leader in Digital Payments, USA. https://usa.visa.com/pay-with-visa/contactless-payments/contactless-payments.html?
The material provided on this website is for informational use only and is not intended for financial, tax, or investment advice. Terrabank and/or its affiliates, assume no liability for any loss or damage resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional and tax advisor when making decisions regarding your financial situation.
