Contactless payment in retail, sports facilities, and gastronomy
RFID technology enables transactions to be processed quickly and conveniently. RFID payment systems are significantly more secure and cost-effective than cash payments. The accelerated and convenient processing of transactions also makes it possible to generate higher sales.
An RFID chip integrated into a card or wristband can be moved past a suitable reader to trigger a transaction. Unlike using cash or traditional credit cards, users do not have to open their wallets or purses and insert their cards into a reader or enter a PIN. In this regard, RFID payment systems can be linked to a bank account or to a database that stores credits or debits that are settled at a later date. Credit systems in particular, such as meal cards in cafeterias or canteens, offer a high level of security.