What is Tap and PIN ATM Transaction Solutions?
Forget cards, PINs, fingerprints and mobile phones, the Tap and PIN solutions for ATM cardless transactions
are a new mobile point-of-sale (POS) system for small traders and an NFC-based mobile wallet.
The Tap and PIN solutions is intended to protect banks online customers from the risks of credit debit card skimming, which costs the industry great deals.
Counterfeit card fraud is a massive issue for the financial institutions and law enforcement that causes significant inconvenience for banks online customers.
With Tap and PIN solution, which is a global first attempts in the fight against card skimmers to curb this issue.
The Tap and PIN solutions, together with reprogramming of the bank's ATM devices will also include support for Near-field or nearfield communication (NFC) technology for authentication and pre-staging cash machine transactions using the customer handset.
The ATM tap and pin credit card is to develop to be an EMV and PCI compliant card reader device for its fast pay app that connects through the audio-jack port in an iPhone operating system (iOS) or Android device.
Tap and PIN is about the size of a matchbox, the card reader features an integrated PCI-compliant PIN entry method, remove the need for a companion device to handle EMV chip and PIN transactions.
Giving the most secure way to process mobile payments as banks online customers wanted a more convenient way to enter card details.
Tap and Pin Credit Card
Banks online customers will be able to securely transfer and store a single card cards or multiple credit cards on their
mobile phone and use those cards to transact at contactless terminals for contactless payment.
Banks online customers have openly embraced visa pay wave, with all debit card transactions currently taking place using this tap and pin technology for contactless payments.
The tap and pin solution provides banks customers with another convenient way to make purchases via their mobile device, wherever contactless cards are accepted.