Is a chip (EMV) credit card the same as contactless payment?
Category: Business Service: Credit Cards | Updated: September 30th, 2015
No. Contactless cards employ near-field communication technology (NFC), which has a radio antenna that transmits account information, and work by waving or tapping your card in front of a device. Chip cards must be inserted face-up into a chip-enabled merchant terminal that allows the chip to make contact with the reader to authorize and complete a transaction.