Contactless payments are based on EMV technology, where a card terminal at the point of sale reads the secure EMV chip on a credit or debit card with a near field communication (NFC) reader. During this process, the cardholder does not have to hand over his or her payWave card, instead holding it in front of the reader in a distance of a maximum of 4 centimetres.
For amounts of less than 25 Euros, the transaction does not require PIN or signature. For amounts of more than 25 Euros, the cardholder confirms the transaction as usual with either a signature or the use of a PIN number.
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