| Term | Definition |
|---|---|
| Near-Field Communication (NFC) |
Near-field communication (NFC) is a technology that uses a type of radio frequency identification (RFID) chip that can only be read at very close range. It's used in contactless cards and by mobile wallet apps. The user holds the card or device up to the payment terminal and a token representing their payment credentials is transmitted. Tokenization prevents the possibility of payment credentials being intercepted and used fraudulently. Read more >>> |
