What is Contactless Payment Options?
A contactless payment center is a point-of-sale service that allows users to use their phone or another contactless payment method to make payment for a purchase. This can be in the form of a ring. The fact is they do not need to carry cash or debit and credit cards.
Is Contactless Payment Methods Legal?
Yes, contactless payment methods are legal. They are growing in popularity with the European Union and especially in the United Kingdom. There are measures put in place to prevent fraud on the cards associated with the contactless payment methods you use.
What if There is Fraud Committed on my Account?
Despite the efforts being made to prevent fraud on the cards associated with your contactless payment methods fraud is still going to occur. This will mean that you are not legally responsible for any fraudulent payments made with your contactless payment methods.
Does Contactless Payment Have any Partners?
Yes, contactless payment is growing in popularity both in the United States and the European Union. The partners in the United States are Google Pay and Apple Pay. Customers link their debit and credit cards to their Google Pay or Apple Pay account. Then they waive their phone to the point-of-sale terminal and the cards on file are charged.
— PSI-Pay (@PSIPayLtd) August 10, 2015
In the European Union, they have both Google Pay and Apple Pay for payment with the phone. But they also have a ring available for customers to use. The ring is available in multiple sizes and styles. The ring is not gendered specific. The user simply waives the ring to the point-of-sale terminal and the card on file is charged.
Is the Ring Safe?
No, it is not safe from fraud. There is a possibility that the ring will be stolen and used for purchases by someone other than you. If this happens you are safeguarded with the fraud prevention measures put into place for the ring. Also, you should know that you cannot make a purchase of more than 30 pounds. This is to protect you from fraud.
When Will the Ring Contactless Payment Method Come to the United States?
There is no definite answer to this question. The ring contactless payment method is being tested in the European Union. When it is done being tested it might make its appearance throughout the rest of the world including in the United States.