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N e w ! A B M P P o c k e t P a t h o l o g y a t w w w. a b m p . c o m / a b m p - p o c k e t - p a t h o l o g y - a p p . 69 EMV card, also known as a smart card or chip card, with a vector symbol. no-touch payments. Smartphone mobile wallets allow clients to pay for products and services by holding their smartphone near your reader. Mobile payment methods use the same NFC technology as contactless smart cards, where payment info is collected and transmitted from your POS terminal to your client's payment processor in an encrypted form. Mobile wallets make it easier and faster to pay, and they are also considered to be more secure. For your tech-savvy clients, mobile wallets have replaced traditional wallets and store not only payment information but loyalty cards, gift cards, tickets, and even driver's licenses. There are several mobile wallets, as well as other person-to-person payment apps (like Venmo, Zelle, Cash Up, etc.) that only move money between bank accounts, which we'll discuss later in this article. Are Contactless Payments Secure? Contactless payments work by using a unique, one- time token sent from your client's smart card or mobile wallet to your payment terminal for each transaction using the same technology as inserting a smart chip into a card reader (but the process is much faster!). The token does not contain any client credit/debit card details and can only be used one time, so the token prohibits hackers from gaining client payment information. For added protection, most mobile wallets have an additional layer of defense in the form of a PIN, password, or fingerprint your client will enter on their device before their payment can be processed.

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