How contactless payments can safeguard your finances

In today's fast-paced world, it is crucial to prioritize both convenience and security. As our lives become more and more digital, contactless payments have emerged as a valuable asset in ensuring financial safety. This modern payment method not only streamlines transactions but also fortifies the protection of our hard-earned money.

According to Central Pacific Bank's Vice President, Director of Financial Crimes Security Thorsen Steen, "In a digital age, security is paramount, making contactless payments an essential tool for safeguarding our finances. This method provides not only convenience but also acts as a shield against potential financial vulnerabilities.”

What is a Contactless Card?

Contactless cards are revolutionizing the way we pay. By leveraging near field communication (NFC) technology, these cards allow for swift and secure transactions with a simple tap. Gone are the days of swiping or inserting your card. Now, a quick tap on the terminal is all it takes to complete a purchase securely.

What is a Contactless Payment?

Contactless payments offer unparalleled ease and security. Unlike traditional methods, there's no need to swipe or insert your card into the terminal. Instead, you merely tap your card within 1-2 inches of the terminal, and the transaction is complete! For added peace of mind, the transaction only initiates when in close proximity to the terminal, ensuring that your financial information remains safe from afar.

More Contactless Chip Card FAQs

Benefits of Contactless Chip Technology

Embracing contactless chip technology unlocks a multitude of advantages:

• Faster Checkouts: With a simple tap, you can expedite your transaction time, making your shopping experience more efficient and secure. For added convenience, you can also integrate your contactless debit card into your mobile wallet, enabling lightning-fast payments directly from your phone.
• Greater Security: Contactless payments empower you with control over your finances while safeguarding your data. Since your card never leaves your hand during the transaction, the risk of card skimming is significantly reduced. Moreover, each purchase is encrypted uniquely, and the chip cannot be cloned or tampered with. Even in the event of accidental double-tapping, you're shielded from double billing, ensuring that your finances remain intact.

How to Make a Contactless Payment 

1. Making a contactless payment is a breeze

2. Look for the contactless symbol at checkout

3. Tap your card on the terminal or hold it 1-2 inches above.

4. Wait for the reassuring beep or green light.

5. Follow any on-screen instructions, such as signing or entering your PIN if prompted.

In essence, contactless payments represent more than just a technological advancement – they signify a shift towards a safer and more efficient financial landscape. As you “tap” into the world of contactless payments, rest assured that you are taking necessary measures to protect your finances.