Contactless Payment or Wearables: The Future

It is believed that payments enabled by QR code or carried out through NFC-based cards will gain popularity. In India, wearable technology like smartwatch is restricted to fitness purposes and contactless technology in the field of payments has been introduced with the trend of pay using NFC technology. If a debit or credit card is NFC-enabled, one can near a PoS machine that also boasts of the same technology. The debit cards of the NFC-enabled chip cards, requires one to wave and pay with wearable or contactless payments, but security is a big concern. The idea of a card being stolen still exists and the prevention of misuse should be taken into account on priority basis while building these products. Security Concerns such as Remote Access must be addressed. Read more at: https://www.entrepreneur.com/article/295401