As end users, we have come to love contactless payments. For this reason, contactless payments continue to become a bigger part of our daily lives.
So what features do contactless-enabled cards have that allow us to make contactless transactions?
A contactless smart card is a card the size of a standard credit card that carries 13.56 MHz contactless identification data. With contactless cards, payments can be made without physical contact at POS terminals that support contactless payment.
So how many types of contactless cards are there?
Generally speaking, there are two classes of contactless bank cards: Magnetic Stripe Data (MSD) cards and Contactless EMV cards.
Since Contactless Magnetic Stripe Data cards are not a very commonly heard term, let's explain this a bit further.
Contactless Magnetic Stripe Data cards (MSD) are a type of card that, in terms of the data shared over the contactless interface, resemble magnetic stripe cards, operate without PIN verification, are generally used in US payment systems, and are more secure than a standard magnetic stripe card.
