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Contactless Payments

By Aubrey Corda, Published 19th June 2020

Among the many changes we shall see in the near term is the rapid increase in contactless transactions. Hitherto, contactless largely implied payments initiated from the merchant or payers mobile phone by scanning a QR Code or tapping a NFC enabled phone or wearable in close proximity to a NFC reader. These transactions will continue to grow with even greater momentum.

With the wide adoption of EMV Chip & Pin cards, most card transactions involved dipping your card into a terminal slot to authenticate and authorize a payment. It often meant handing over your card momentarily to the cashier or server. The advent of the current pandemic and resulting importance of minimizing contagion transmission through surface contact, has made contactless cards and “superior” quality contactless terminals an imperative.

As a leading provider of POS terminals to licensed payment service companies in China (Morefun Top3), Morefun has the products and technical expertise to help our partners create solutions for EMV, NFC, QR terminals in the shortest possible time by cutting development time; thus reducing cost and time-to-market for contactless solutions.