Contact Less CHIP Transactions:-

Contact Less CHIP Transactions:-
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New payment methods are being developed and introduced in the payment industry.
One of these new methods is the use of contactless chips that are embedded within a Visa card.
The contactless chip transmits Track 2 data wirelessly without direct physical contact between the card and the terminal.

Visa will implement changes to add new values to identify contactless chip transactions.
Visa U.S.A. will support the issuance of cards with contactless chips and the processing of transactions originated from a contactless chip.

Any Visa credit or Visa debit card may be issued with a contactless chip in accordance with the standards published by Visa.

These Visa contactless chip cards consist of one of the following:

1), a magnetic stripe Visa card with an embedded contactless chip
2) a Visa Smart Debit Credit (VSDC) chip card that has a magnetic stripe and supports a contactless chip.

The contactless chip employs radio frequency identification (RFID) technology that enables the chip to communicate with a point-of-sale (POS)
device that is enabled with a RFID receiver.

All contactless terminals must support RFID technology at the point-of-sale in accordance with the technical specifications ISO 14443 A and B and the Visa
Financial Messaging Specification for Contactless Payment.

The contactless chip employs radio frequency identification (RFID) technology that enables the chip to communicate with a point-of-
sale (POS) device that is enabled with a RFID receiver. A Visa contactless chip card and RFID-enabled terminal
communicate wirelessly so that the magnetic stripe information is sent from the chip to the terminal.