Contactless Card

byPaytm Editorial TeamLast Updated: July 31, 2025

Meaning

A Contactless Card is a debit or credit card that allows users to make payments by tapping the card near a payment terminal, without inserting or swiping it.

How It Works

These cards use NFC (Near Field Communication) technology. For transactions under a certain limit, no PIN is required.

Benefits

It speeds up payments, reduces contact, and is safer for small-value transactions.

You May Also Like

PayeeLast Updated: September 16, 2025

Definition The payee is the individual or merchant who receives money in a transaction. The payee’s account is…

TRN (Transaction Reference Number)Last Updated: July 11, 2025

Meaning A Transaction Reference Number (TRN) is a unique ID generated for every UPI transaction to help track…

QR Code PaymentsLast Updated: August 19, 2025

Meaning QR Code Payments refer to digital transactions made by scanning a Quick Response (QR) code with a…

Bank BranchLast Updated: September 10, 2025

Definition A Bank Branch is a physical office of a bank where customers can do transactions like depositing,…

UPI Device UnbindingLast Updated: October 21, 2025

Meaning UPI Device Unbinding removes the link between a UPI account and a mobile device, usually during device…