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6/21/2022 | By Team United
The days of only using cash to pay for products are long gone. Now there are multiple ways to pay, including credit cards you don’t even need to swipe.
More than half of Americans use some form of contactless payments. That includes tap-and-go credit cards and mobile wallets, including Apple Pay.
The popularity of contactless credit cards is growing in the United States. Contactless cards only require you to hold your card near the terminal where you would normally swipe or insert your card.
Contactless credit cards are equipped with radio frequency identification (RFID) technology and near-field communication (NFC) which allows transactions to be processed. Cards with this technology will have a wave-like symbol on the front. Not every store has the technology to use contactless cards. If a store accepts contactless cards, the card terminal will have a similar wave-like symbol to what you see on your card.
There are many reasons why contactless credit cards are gaining more of a following in the United States. For starters, they can be faster to use than a traditional credit card. “Tapping” your card instead of inserting or swiping it takes only seconds.
Because the cards only need to be near a terminal, they stay cleaner than others cards. There is also less wear and tear on contactless cards than what you experience with a chip or magnetic strip card. Contactless cards can last for years.
Contactless credit cards use the same security technology as chip cards. Each transaction generates a one-time security code that protects your card’s information.
According to Visa®, there is less fraud with contactless cards compared to other cards. If someone were to get close enough to read your card, they still would not have access to the cardholder’s name or the card’s security code which helps prevent counterfeit cards and fraud.
Contactless credit cards are quickly becoming the go-to in the United States. In 2022, there are more than 400 million contactless Visa credit cards in circulation. With most credit card issuers now sending contactless cards by default, the number of people using the cards will continue to grow.