The latest payment method coming to the United States is the tap and go payment system. Though common in many parts of Europe, the technology has been slow to enter the American business setting. Some consumers may be familiar with tap and go from some retailers using it with their specific rewards cards and store issued credit cards.
Tap and go cards utilize a small transmitter that is embedded into the card to communicate with a retailer’s transponder. Instead of having to swipe the card’s magnetic strip or inserting a card to have the chip read, the consumer only needs to tap the card with the transmitter to the card reader. To be precise, the card doesn’t need to touch the card reader, it only needs to be placed very close to it.
Retailers are quite excited about tap and go as the systems will reduce checkout times. This is especially important in situations where people are in a hurry to get in and out of a business, such as in a convenience store. Tap and go will also be useful for street food vendors and other small businesses that are a one-person operation.
While tap and go has a lot of benefits, there are also some drawbacks. It is possible for thieves to remotely steal the card information from the transmitter in the card. However, the cards have features that help to thwart the efforts of criminals. In fact, there has not been a lot of fraud concerning the transmitters. However, transmitter fraud may become more common as more and more people begin using the technology. To maximize safety, consumers can place the cards inside an RFID wallet that blocks the signal from the card. These wallets are already commonly available from a range of retailers from dollar stores to luxury retailers.
Tap and go technology will become a more familiar part of life in the United States in the coming months and years. Consumer’s should be ready for the change as the old ways of using a credit card will likely become obsolete in coming years.
Dil Bole Oberoi
