The new contactless payment cards are just like regular credit cards in many ways. The front of the card has the account holder's name and account number printed on it, and the back has a magnetic strip containing the account information, so it's This card can be used anywhere a regular credit card is used, the main difference is inside the card. ?

Contactless payment cards have a tiny "RFID" (Radio Frequency Identification) microchip embedded inside them. When the chip is close enough to the terminal, the terminal can obtain information (such as account number and name) from the chip. So, instead of swiping the card's magnetic stripe in a standard credit card reader, the cardholder simply holds the card a few centimeters from the instant payment terminal, where it remains in the cardholder's hand at all times. ?

As with a standard credit card transaction, the terminal will send a message over the phone line to the bank that issued the card and check the account balance on the card to see if it is sufficient to cover the purchase. If the balance is sufficient, the bank will issue a confirmation number to the terminal, the transaction is approved and the cardholder can go through.

Extended information:

Contactless card transactions are becoming mainstream? The consumption limit has been significantly increased

People's Daily Online, London, February 8th, the British Bankcard Association announced that, From September this year, the spending limit using contactless cards will increase by ￡50 to ￡30.

According to the British Broadcasting Corporation, this move is to adapt to the sharp increase in consumers using contactless cards in the UK, and the transaction volume generated through contactless methods has more than tripled.

Londoners paid ￡41 million via contactless cards on tubes and buses last year, up from ￡652 million in 2013 to ￡2.32 billion last year.

The current spending limit for contactless cards is ￡20, up from just ￡10 when the technology was introduced to the UK in 2007. Richard Koch, director of the British Bankcard Association, said that contactless cards have entered the mainstream of consumption in the UK.

Usage has soared every month over the last year, with people increasingly switching from cash to contactless cards. London is the most popular area for contactless card use, with 30% of all transport purchases under ￡20 made through contactless cards last year.

Baidu Encyclopedia - Contactless Payment Card

People's Daily Online - UK: Contactless card transactions are becoming mainstream? Consumption limits have been significantly increased