Contactless financial products are a fast, convenient and secure one-touch way to pay for small everyday purchases. All banks issue cards that are tied to their own banking system or to the international one. You can make a debit, credit, co-branding, overdraft, premium, classic contactless card at any bank. The cost of the issue, terms of service, additional product features (bonus programs, cashback) are determined directly by the issuing bank. The conditions for obtaining and issuing a card are the same for all banks, but the cost, service and financial solutions provided have serious differences.
What is the advantage
Contactless payment technology has a number of advantages over cashless payments with a magnetic stripe card:
But for contactless technology to work, you need a terminal that supports receiving a signal from this type of card. With the introduction of new payment technologies, large retail chains have equipped cashiers' workplaces with POS terminals to receive a signal via a radio channel, but small stores use old equipment. In this case, there will be no problems with payment by card, since banks issue means of payment that allow you to pay in two ways: use contactless technology (if the payment terminal allows) or pay with contact cards.
How to make a contactless card
Financial products with contactless payment technology are equipped with a special chip and an RFID antenna for transmitting payment information over a secure radio channel to contactless terminals. Each payment system has its own contactless payment technology:
They have common data transfer standards, but the security systems, production and conversion currency differ, which is especially important when using the card outside of your country. The payment system is selected depending on the conditions of use.
There are such ways to get a financial product with contactless payment technology:
How to make a contactless card instead of a contact
Any financial product has an expiration date. When the operating period is nearing the end, financial institutions re-release the product. Credit cards are automatically reissued, while debit cards require an application from the holder of the means of payment. Since contactless payment is convenient for banks, when a card is reissued, many banks automatically issue cards that work according to the new contactless technology.
Premature re-issue of the card is made when the client contacts the bank branch, since the terms of circulation and the reasons for re-issue are unknown. You need to apply for a card if:
When applying individually, you need:
Each financial institution has its own terms for producing a card, the cost of issuing a new card may also differ. On average, the card is produced in up to 2 weeks, but at the request of the client (for an additional fee), some banks can speed up this process.
You can manage funds on the account before receiving a new card through your personal account, by withdrawing money from the bank's cash desk using your passport. Access to non-cash payments is limited.
If the bank card is replaced prematurely, its number and PIN code will be changed. If constant payments are made to the card, then it is necessary to warn the payers about the change of details. But if the payment is made to the account linked to the card, then the exchange of the card will not entail any consequences. When replacing cards, the CVV2 / CVC2 code changes, which is required for purchases in online stores.
How to make a new contactless card
To get a plastic card using contactless payment technology, you must:
By paying with a contactless bank card, customers receive a convenient and secure financial instrument.
What is the advantage
Contactless payment technology has a number of advantages over cashless payments with a magnetic stripe card:
- Instant passage of payments. The data transfer technologies used allow one-touch payment. No need to insert the card into the terminal, enter the PIN-code. This speeds up the shopping process for everyday goods. The only limitation is the maximum purchase amount, which is set by payment systems independently for each country. On the territory of Russia, if the payment amount exceeds $ 15, then you must enter the security code. For the VISA system, the maximum purchase amount is limited to $ 15. But for the convenience of users, the issuer bank provides the ability to remove restrictions on the amount of payment without entering a PIN code or changing the limit for paying for purchases.
- Full control over the payment process. The card is in the hands of the owner and is not transferred to third parties, which excludes the possibility of copying the payment means data.
- Payment by phone. Smartphones use NFC wireless technology, which allows data exchange between devices over a short distance (up to 10 cm). The use of contactless payments is possible when the module is turned on, the application is installed and the payment instrument is linked to the phone.
- Enhanced payment protection. The minimum distance between the contactless card and the terminal, the use of cryptographic keys when transmitting data over the radio channel helps to protect the owners of contactless cards from unauthorized withdrawal of funds.
- Long term of validity. Due to the absence of mechanical impact, the means of payment is not damaged, which increases the service life.
But for contactless technology to work, you need a terminal that supports receiving a signal from this type of card. With the introduction of new payment technologies, large retail chains have equipped cashiers' workplaces with POS terminals to receive a signal via a radio channel, but small stores use old equipment. In this case, there will be no problems with payment by card, since banks issue means of payment that allow you to pay in two ways: use contactless technology (if the payment terminal allows) or pay with contact cards.
How to make a contactless card
Financial products with contactless payment technology are equipped with a special chip and an RFID antenna for transmitting payment information over a secure radio channel to contactless terminals. Each payment system has its own contactless payment technology:
- World - MirPay;
- MasterCard - PayPass;
- Visa - PayWave.
They have common data transfer standards, but the security systems, production and conversion currency differ, which is especially important when using the card outside of your country. The payment system is selected depending on the conditions of use.
There are such ways to get a financial product with contactless payment technology:
- order a new card;
- replace the card in case of expiration;
- issue a premature reissue of a contact card.
How to make a contactless card instead of a contact
Any financial product has an expiration date. When the operating period is nearing the end, financial institutions re-release the product. Credit cards are automatically reissued, while debit cards require an application from the holder of the means of payment. Since contactless payment is convenient for banks, when a card is reissued, many banks automatically issue cards that work according to the new contactless technology.
Premature re-issue of the card is made when the client contacts the bank branch, since the terms of circulation and the reasons for re-issue are unknown. You need to apply for a card if:
- losses;
- demagnetization;
- theft;
- seizure or retention by an ATM of a third-party bank;
- blocking a plastic card on suspicion of fraud or access by third parties;
- the need for contactless payments and other reasons.
When applying individually, you need:
- fill out an application at the bank branch indicating the reason for the replacement;
- pay the commission for reissue (withdrawal from the account is possible).
Each financial institution has its own terms for producing a card, the cost of issuing a new card may also differ. On average, the card is produced in up to 2 weeks, but at the request of the client (for an additional fee), some banks can speed up this process.
You can manage funds on the account before receiving a new card through your personal account, by withdrawing money from the bank's cash desk using your passport. Access to non-cash payments is limited.
If the bank card is replaced prematurely, its number and PIN code will be changed. If constant payments are made to the card, then it is necessary to warn the payers about the change of details. But if the payment is made to the account linked to the card, then the exchange of the card will not entail any consequences. When replacing cards, the CVV2 / CVC2 code changes, which is required for purchases in online stores.
How to make a new contactless card
To get a plastic card using contactless payment technology, you must:
- Get acquainted with the offers of various banks for financial products that operate on contactless technology. Based on the offered rates, annual service, bonus programs, credit obligations, payment system (especially important when traveling outside the your country), commission for withdrawing money and other criteria, choose the most suitable one.
- Apply for a card. The application is submitted during a personal visit to a bank branch or on the website of a financial institution. Some banks provide only remote registration of a means of payment. For this, a questionnaire is filled out indicating personal data, contact phone number, e-mail, address of residence and other information.
- Clarify information. When submitting an application online, the bank manager contacts the client, specifies the terms of use. Usually, the conditions for the provision and use of contactless cards do not differ from their usual counterparts. An online application for registration of a card indicates the client's interest in the bank's services, but has no legal consequences. Until the contract is signed, the client has the right to refuse to issue a plastic card.
- Get a new card. The issuance of the means of payment is made at the bank branch after the signing of the service agreement. The card is issued in an opaque envelope with an individual PIN-code. If banks work remotely, then the card is delivered by mail or courier delivery.
By paying with a contactless bank card, customers receive a convenient and secure financial instrument.
