Contactless technology is not new. But for many decades now, using magstripe has dominated the industry. In recent years, however, contactless tech has once again been in the spotlight because of better features and a variety of options for organizations, including better security and faster transaction times.
What is contactless tech?
Put simply, contactless tech is another term used to describe smart cards. A smart card contains a miniature, sophisticated chip that receives and transmits data through a wireless card reader. Indeed, with the increased focus given on user security, contactless cards are likely going to become more popular in coming years.
What is wrong with magnetic stripe cards?
Although magnetic stripe cards are still widely used today, there are many reasons why organizations are shifting away from this technology. For starters, it is quite outdated. Magnetic stripes were invented in the 1960s and are comparable to the now obsolete cassette tapes. In fact, using a contactless chip card has been the standard for most European countries for many years now. You will notice this technology widely used in access control, transportation, payment processing and even passports.
Another notable reason to consider shifting to contactless chip cards is added security. One common problem with magstripe cards is that they are easily cloned. Fraud is a big problem that affects many organizations, across a wide variety of industries.
What makes chip cards highly secure?
There are many reasons why contactless tech offers better security. Here are two of the benefits of using contactless tech:
1. The chip card design was primarily invented to avoid fraud. Unlike a magnetic stripe card, the processor will not read and retain data from your card, which can be cloned. As a security feature, the data stored in a contactless chip card is encrypted; hence, making it a tedious process to extract or isolate the owner’s information. If you want to attempt to clone a chip card, you need to access the chip circuit and manipulate the hardware hoping to get useful data. Aside from the near impossibility of this process, you will also require expensive equipment, which is not something an ordinary fraudster would be capable of doing.
2. Faster transaction times. A contactless card only needs to be tapped on a reader and not swiped or inserted like a magstripe card; in some cases, the user can even tap their wallet ort purse without having to remove the card. This speeds up transaction times making it quick for people to enter buildings, pay for items and much more!
Whether you are looking for a more secure way to process contactless payments or need a technology that offers more speed and convenience than magnetic stripes, contactless chip cards are the way of the future and are the best solution you can find.
Contactless technology is applicable in almost any organization that uses cards to secure buildings or process transactions. Chip card manufacturers today supply cards made from different materials and custom designs to fit your needs. If you are interested in phasing out magstripe cards and using chip cards instead, look for a reputable supplier and choose the right design. You can also research different suppliers and compare their product offerings to ensure that you find not only the best but also the most secure technology.