3 ms·

Hate to be the bearer of bad news, but contactless in the US is fast because it generally transmits magstripe data.

• coldcode 9y ago
  Apple/Samsung/NFC Pay is not mag stripe. It is generally faster than a chip card.
  • flax 9y ago
    Apple and Android Pay are not mag stripe, they're proper encrypted nfc payments. Samsung pay CAN be a magstripe emulation, for terminals that don't support NFC.
  • haikuginger 9y ago
    To clarify, EMV supports tokenized transactions that emulate the _contents_ of the magnetic stripe over NFC, and this is what is broadly used in the US. Note here[0] that Chase states that only contactless MSD support (contactless magstripe emulation over NFC with a dynamically-generated security code) is required for Apple Pay; a subset of contactless EMV. [0] https://www.chasepaymentech.com/developercenter/applepaymodels.html https://www.chasepaymentech.com/developercenter/applepaymode...