NFC Tags for payments
NFC Tags for payments
Is there any specific NFC tag that can be used to make payments directly on a care reader or pos terminal?
NFC tags are used for exchanging small amounts of data quickly by tapping. There are 5 types of NFC tags (type1 to 5) out of which few are rewriteable and others are not. NFC tags doesn’t have capability to process EMV operations and cant be used in POS for EMV transactions. This can store and exchange data like a URL address, text, contact information, may be token etc.
It is EMV card/specification using NFC technology. For example, the same EMV chip you see in your credit card will be integrated into a wearable device like watch in a 2FF/micro/mini form factor or it will be embedded into it. You can find an example wearable device with 2FF formfactor (in watch) and embedded (in rings) here – https://laks.com/en/
Thanks a lot for the info. My other question is that a lot of payment wearable devices say that they are using nfc technology. So if nfc cannot be used for making the payments, are they using emv?