Contactless Payment
Contactless Payment - A payment method that lets users buy goods and services with a debit/credit card or mobile device via NFC, without inserting the card or entering a PIN.
Related Terms
NFC
Near Field Communication (NFC) - Technology that lets two contactless-enabled devices (cards, phones) and a payment terminal communicate when in close proximity (usually under 4cm). It is the foundation of tap-to-pay.
EMV
EMV - The global standard for chip-based cards that authenticate and secure transactions. The name comes from its three co-founding card organizations: Europay, Mastercard, and Visa.
CPoC
Contactless Payments on COTS (CPoC) - Also called Tap on Phone without PIN. Lets a smartphone act as a payment terminal to accept tap transactions without a PIN.
MPoC
Mobile Payments on COTS (MPoC) - Also called Tap on Phone with PIN. A PCI standard that lets a smartphone accept payments with PIN authentication, improving security over CPoC.