NFC

There are too many security, usability and reliability risks for QR codes to be the main driver of transit payment. NFC is likely better, says Carlypso Networks' Philippe Vappereau.

The debate over whether NFC or QR codes is the best technology to adopt persists. So far, there has been plenty of room for both.

The debate over whether NFC or QR codes is the best technology to adopt still persists today. So far, there has been plenty of room for both.

Amid success stories like Apple Pay, Google Pay and the Starbucks app, there are many wallet apps that failed to gain traction — or squandered it when they did. But there is a lot to learn from their experiences.

As merchants and consumers increasingly favor contactless payments over the course of the COVID-19 pandemic, Visa is removing obstacles to contactless acceptance.

Payments technology entrepreneur Will Graylin is launching OV Valet Superkey, a payment card and digital wallet that can initiate touchless payments at more than 90% of all payment terminals. It pairs with an app that supports messaging and live chat functions.

Riding a technology wave that helps attract more customers and generate more revenue sounds appealing enough — but with contactless payments, there isn't always a clear upgrade path for stores that have relied on older terminals.

EMV specifications body EMVCo has started a pilot program to evaluate consumer mobile devices for contactless payment acceptance, enabling vendors to have smartphones and tablets evaluated for possible use by merchants to accept payments without attached card readers.

Coronavirus galvanized the use of NFC payments and QR codes, and PayPal wants to harness both trends for Venmo’s first credit card.

The COVID-19 pandemic was a clear incentive for advancing contactless and digital payment technology — but the systems merchants put in place today could create new problems down the road.