Contactless payment system
Contactless payment system Contactless payments work in a way similar to credit and debit cards, which use radio frequency identification (RFID). This technology works with the help of electromagnets, in which the tags given on the top of the card capture various types of necessary information of the customers. It is different from mobile payment to many extents. This technology is currently available in very few areas. There is a contactless payment card called EVM, which also works in ATMs. All the necessary details of the customers are given in the magnetic strip given in this card.