Important things to know before tapping away to pay
CONTACTLESS payment is a fast, easy and secure form of payment that does away with swiping or inserting a credit or debit card into a card terminal. More Filipinos are growing used to contactless payments when buying in physical stores.
With the EastWest Pay app, credit card users don’t even need to hold their physical credit card when making purchases. Users can just tap their near field communication capable Android smartphone over a merchant’s point of sales terminal.
A traditional credit card usually has three features: A magnetic strip on the back, credit card information printed, and a built-in chip that permits the user to insert or swipe the card into a terminal.
A contactless credit card has a small, embedded chip, emitting electromagnetic waves. The user only needs to place their card or smartphone a few inches away from a contactless enabled point of sale terminal for the payment information to be transferred.
Consumers and businesses alike benefit from contactless payment because it speeds up the transaction processing; it’s safer, hygienic, more secure and a good travel companion.
The EastWest Pay app also has important and useful features for those always on the move.
To find out more about EastWest Pay, visit https://www.eastwestbanker. com/pages/eastwest-pay.