Contactless payment with NFC technology
14 February 2017
Contactless payment is a fast payment method that allows you to pay for a purchase with your CB or smartphone without having to enter a secret code or signature.
Thanks to NFC (Near Field Communication) technology, you can now do without traditional card readers, which required to be connected to a fixed telephone line to work.
What is NFC? Near Fiel Communication, Near Field Communication (NFC), is a data communication technology that allows the exchange of information between contactless devices at a distance of about 10 cm.
The different contactless payment methods
Nowadays, there are many possibilities for contactless payment and new solutions are constantly emerging. Here are a few examples:
- Card reader that turns your smartphone into a mobile payment terminal.
- Online payment using e-wallet applications such as PayPal, etc.
- Mobile contactless payment, using the NFC technology of your smartphone (possible with contactless payment applications such as Apple Pay, Android Pay and now Samsung Pay)
According to the statistics collected in December 2016, there are more than 40 million cards in France with NFC payment, which represents 63.5% of bank cards in circulation. Merchants are also increasingly equipping themselves with terminals compatible with contactless payment. To date, more than 494,000 merchants have taken this step.
Contactless payment ceiling
In France, the current ceiling for contactless payments is limited to 20 euros. However, from October 2017, new bank cards will be introduced with a threshold raised to a maximum of 30 euros.
For contactless payment with smartphones, the payment ceiling is set by the bank. It can therefore be higher than 20 or 30 euros but limited to a certain cumulative amount per day, week or month.
Trezor contactless bank cards
Treezor is a payment card issuer that can make cards that embed NFC technology. Our platform also allows you to directly manage the payment options associated with the card. Thus you can freely deactivate the NFC payment from your application.