A Quick Response code or a QR code is a matrix barcode that securely contains information about a bank account. While transferring money to that account, the QR code can simply be scanned and money can be sent. This eliminates the whole hassle of entering the payee’s details like bank account number, name, IFSC code etc. each time.
These codes can be of 2 types - Static and Dynamic
The Static QR code is a one-time or permanent QR code that is linked to an account. A Dynamic QR code can be generated by the merchant individually for every payment with a custom amount, which ensures more flexible and secure transactions.
The QR codes can be scanned from a distance of 6 feet for making the payments and hence, it’s the most preferred contact payment solution.

Near Field Communication or NFC tap and pay is a contactless payment option. It works on NFC technology for exchange of information between the reader or NFC-enabled POS machine and the payment device like an NFC-enabled debit or credit card.
The contactless exchange of information eliminates the need to swipe or insert the card inside the payment or card swipe machine. Payments can be made easily and on-the-go by simply tapping the card.
NFC Tap and Pay is not just safe due to health and hygiene reasons, but is also a highly encrypted and secured way of making payments.

Contactless payments can go a long way in ensuring safety for the merchants, customers, and the population at large.
It is a fast, easy, and secure option that can be available in many flexible options to customers apart from cards like mini cards, stickers, or even mobile wallets.
It can benefit retailers as the payments are much faster and hence, result in shorter queues, better customer satisfaction, and high revenues. It can also provide opportunities like location-based marketing. Research has shown a significant increase in sales for retailers who use contactless payments as compared to those who use conventional card swipes .

As per the policy set in by the Reserve Bank of India, a customer can make contactless payment of up to INR 5000 per transaction without putting the card in the POS machine or putting in the pin. This limit has been increased from previous capping of INR 2000 for better adoption of this payment option by people as customers now want to avoid any physical contact.
The capping also prevents the risk of high losses if the transaction is made by mistake in any situation. After the limit of INR 5000 is over in a day, after that any payment would require the customer to enter the card in the POS machine and enter the pin.

Ezetap offers a range of POS devices, including an efficient contactless POS machine. The device can be integrated to your existing systems. The device is sleek, handy and easy to use. You can be assured of maximum security and safety along with speed while accepting payments.
Simply get in touch with us and our payments expert will assist you in getting the device for your business to make your customers’ payment experience delightful.

Yes, contactless payment is as safe as conventional card payments or cash transactions. The customer remains in control of the payment making device and the payment is completely encrypted and secure. In fact, the safety is even more in contactless payment if you also consider health and hygiene!

For making a contactless payment, you can initiate the payment on the device and ask the customer to simply hold the NFC-enabled card near the POS device. When the card is in proximity, the data will automatically be transmitted electronically using the near field communication (NFC) technology and payment will be made.