NFC Expert What is NFC payment
Watches with NFC module – technological communication that provides near contactless communication in one magnetic induction field between devices with a built-in function. Reading the necessary information occurs in seconds. In simple words, the chip transmits the necessary information at a short distance, something like Bluetooth familiar to everyone.
Many modern gadgets are equipped with this technology. Manufacturers started by introducing chips into smartphones and iPhones, but with increasing consumer demand for more mobile devices, smartwatches have finally been equipped with an NFC chip.
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The modular chip does not consume a lot of energy potential, this fact is definitely very important for smart watches. Provides users with a comfortable opportunity to pay for their purchases by making cashless payments without taking out bank cards.
Scope and opportunities:
- You can pay for purchases in a store, pay at a gas station, make a contactless payment at all terminals with a reader.
- Download special payment options, create virtual analogues of bank cards.
- Conduct financial transactions when buying goods, pay for services in various services on the Internet (taxi, booking air tickets or train tickets).
- Pay for parking, pay for travel in the subway or surface public transport.
- Install templates for regular auto payments.
- Use the NFC chip to receive or transmit any electronic information.
The process of identifying customers for financial transactions takes place literally in a matter of seconds. The contactless payment system has been successfully launched in their services by the largest banking systems. The contactless payment function guarantees complete security and safety of the owner’s data.
How to add a card and pay for purchases with a watch
To carry out a financial transaction, you need to bring a smart gadget with a module to a special area on the terminal and wait a few seconds until the transaction is completed. After the successful completion of the payment, the payer receives a withdrawal notification to the attached mobile phone number. From the point of view of the payer, this is the most convenient payment method that does not require entering a password, pin code, bank card details or authorization.
The only exception is if there is a limit on the withdrawal of certain amounts on the bank card or the amount is very large, in this case additional confirmation on the bank card may be required.
All you have to do is fulfill three requirements:
- Attach a valid bank card from which funds will be debited.
- Register an account, for example, from Google Play.
- Install a payment application.
Smart devices with a chip can also take care of health by constantly monitoring the wearer’s fitness. A fitness tracker is exactly the gadget that will measure the heartbeat around the clock, count the steps taken, monitor and analyze the slightest malfunctions in the human body.
Various payment applications offer to use their services, let’s take a closer look at the requirements and capabilities of each separately.
Samsung Pay is a convenient mobile service that allows you to pay contactlessly for any purchase in the store. Payment for the goods takes place with one touch, and you don’t even need to touch the payment terminal with a mobile gadget. The payment platform will allow you to add up to 10 valid plastic cards of various banks to your wallet. Without any restrictions, use gift certificates, participate in promotions and discounts.
After linking the cards to the wallet, customers of the payment platform no longer need to carry cash with them or use bank cards at the checkout.
For Samsung Pay, as well as for Apple Pay, there is one requirement – payment applications are installed only on devices of the same manufacturer.
The smartwatch is paired with compatible mobile phones from the same manufacturer, and third-party payment applications cannot be installed on the watch.
To fully install and use the payment application in the future, the mobile device must meet the following parameters:
- Android version is at least 4.4.
- RAM at least 1.5 Gb.
The payment service is installed step by step, first the payment application is installed on the smartphone, then it is synchronized with the smart watch. Step by step installation:
- Connect smart watch to smartphone.
- Create a Google Play account.
- In the official app store, select Samsung Pay, click “Install”.
- Confirm app installation.
- Open the installed application, click “Add card”.
- Take a picture of the number of the added card or enter the details manually.
- Confirm adding a new card to the phone number – via SMS code.
- Put your signature directly on the phone display.
- Give consent to the use of the card by the application.
Checking the customer’s bank details takes some time, approximately 10-15 minutes, immediately after the check, the owner can use the application to make contactless payment for purchases.
To make a contactless payment in a store, you just need to press a special button on the side, bring your watch to the display of the payment terminal and wait a few seconds until the operation is completed. If necessary, confirm the payment with a password or a one-time code via SMS.
Via Android Pay
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The best smart watches for Android: LG Watch Sport, Samsung Gear S3 or Huawei Watch 2. Many models work offline up to 48 hours with active navigation, in normal mode up to 4 days. This will allow you to easily pay for your purchases both through payment terminals with a built-in NFC module, and online in stores via the Internet.
Smart watches turn into a payment system after full synchronization with a mobile device, before that, a payment application with a valid bank card linked to it must be installed on the smartphone.
What hours can you pay in Russia
It’s time to review and present the best smart gadgets that are gaining considerable popularity in Russia. The novelties of the season, featuring a wide range of features, distinctive characteristics, built-in functions and features.
Smart watch AlfaPay
The leader was Alfa-Bank, one of the first to introduce the unique AlfaPay payment clock with a built-in NFC module for making contactless payments. The modern solution was implemented together with the MasterCard payment system, so the purchase of watches takes place together with a bank card and costs about 6,000 rubles.
Almost anyone can become the owner of AlfaPay. However, for this you need to fulfill several requirements:
- Open a package of services at Alfa-Bank: “Optimum”, “Comfort”, “Maximum” or “Maximum”.
- Issue an Alfa-Bank bank card for salary transfer.
Each client who fulfills one of the two conditions can easily apply to the bank to purchase payment hours.
A special payment application is already preinstalled in the smart gadget, which is automatically attached to the bank account and immediately allows the owner to pay for their purchases. More than one bank card, as well as debit, prepaid and deposit accounts can be linked to a smart device.
Payment using AlfaPay watches takes place within a few seconds. The client must check the correct amount of the payment being made on the terminal display, if everything is correct, bring the gadget to the terminal. After a successful payment, the buzzer will sound from the terminal and the green color will light up.
If the purchase amount is up to 1000 rubles, then payment for purchases occurs without additional confirmation, literally in one touch. However, if the purchase price exceeds 1000 rubles, the owner will have to confirm using a pin code.
The technology is completely safe, excluding the possibility of making random repeated payments. Immediately after one financial transaction, the payment device is automatically turned off.
The largest manufacturing company Apple has brought to the consumer market many modern models of unique watches with an integrated NFC chip for contactless payments. There are many different designs on the market, from modern sports models at an affordable price for the middle class, to luxury models.
A distinctive feature of Apple’s lineup are interchangeable designer straps, that is, each consumer can change the style at his own discretion, experiment with fashionable looks. A smart gadget has a direct connection with a bank card through a special pre-installed application.
The price policy of smart gadgets starts from 4290 rubles. The 3rd generation range is equipped with a dual-core processor, providing users with efficient application performance and financial transactions through terminals.
The device from Samsung Gear S3 is the main competitor for gadgets from Apple. The lineup captivates users with its performance, very stylish design solution and interchangeable straps. Samsung gadgets have effective synchronization with both Android-based smartphones and iOS operating system.
The developers have created two directions: sports, designed for modern youth and a classic series for the business class. The only limitation is the installation of the shell, it is installed exclusively licensed using the Samsung Pay system. The cost of gadgets is not cheap and starts from 16,300 rubles.
Watch2Pay is the first device in Russia from a domestic manufacturer. An nfc module is built into the body of a modern gadget, providing efficient contactless payments using PayPass and MasterCard. The development of the entire model range belongs to the popular Austrian company Laks, but the devices are assembled in China.
When purchasing a Watch2Pay watch, the client receives a standard MasterCard bank card and a SIM card with a built-in nfc module. The developer offers consumers to choose their device, focusing on increased reliability and enhanced security of the device. The cost of productive gadgets of this company starts from 3000 rubles.
A modern gadget from Michael Kors is positioned by the brand as a very expensive and elite accessory. The famous company logo is applied on the case, all the little things are thought out strictly, initially the task was to create a wide range of models of various design solutions.
The model range is represented by men’s and women’s lines. The first thing that catches your eye is a seasoned classic style, especially men’s models look very solid, with a rather large case and a stylish wide strap.
The manufacturer produces devices based on the Android Wear operating system, with a built-in powerful processor. Each client has the opportunity to choose the style of the preset dial at will, to make a replacement at any time. The price policy of the original smart watches of this company starts from $400, and fully depends on the strap, dial and the material from which they are made. This version of the smart gadget will be the perfect choice for those customers who appreciate the classic performance in modern technology.
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A smart watch with built-in NFC for efficient contactless payments is definitely a safe, reliable and modern technology. Every day more and more people turn their attention to a comfortable and convenient accessory, giving preference to this gadget. In addition, various banks, in order to attract customers, conduct various promotions for paying for purchases using NFC, make significant discounts on goods, give certificates or return a significant cashback.