Contactless EMV Cards

Contactless EMV cards enable cardholders to use the full benefits of a card without the need to own a conventional card. Most contactless cards have two interfaces (contact and contactless). The contact interface is used for normal EMV transactions where the card needs to be entered physically into the EMV card reader. The contactless interface provides similar data when held close to a contactless reader. Since the contactless readers have no moving parts, the terminals need lower maintenance. The main advantage of contactless cards is that the transaction time is much shorter than with contact cards. The contactless cards may be dual interface, but they can also take many other forms: some contactless cards are smaller than contact cards, and can be designed to appeal to the target cardholders’ imagination.

Quipu Processing Centre offers financial institutions the possibility to join the growing market for contactless Visa PayWave and MasterCard PayPass. We currently support contactless technology with stickers which can be securely attached to any surface. Cardholders make payments by tapping their sticker on the contactless terminal. The card authentication and transaction takes place through electromagnetic induction with no need for any additional card verification method (CVM) such as offline/online PIN or signature for low value payments.

It is possible to set a limit on the amount that can be spent using a contactless card as well as request cardholder verification if the amount exceeds the CVM limit.