Ellasure:


contactless transactions are done when you use your GSM phone to transact business and money services for payments without you going to your bank banking halls.

money or business transactions done by you without your meeting your bank accounts officers.

in short, money transactions done with your bank account through electronic devices without your official bank officer.

I hope you have gained some knowledge of contactless contacts banking transactions.

RubiesBanking:


A contactless payment does not require you to swipe your card though a POS machine or make interactive contact with your device to do a transfer before you make payment.

With contactless payment, you just hover your card or a device next to a supported machine and it's much more secure.

Any phone that is NFC [Near-Field Communication] enabled will also be able to utilize this feature, also you can use your credit or debit card if it has a RFID chip embedded in it.

Here's how a contactless payment typically works

1. The customer presents his contactless card or NFC enable phone over a POS terminal that accepts such payments
2. The wireless chip transmits card information
3. The payment terminal contact the bank
4. The card issuer transmits an approval or a denial.

Here is a small video explaining graphically what all this mean


https://www.youtube.com/watch?v=2nldPwska-8

YOU ALSO HAVE TO BE CAREFUL BECAUSE ANYBODY CAN SCAN YOUR CARD AND EASILY MAKE FRAUDULENT TRANSACTIONS
https://www.youtube.com/shorts/3C2wK7TFP0c

WhatIf:



Try to read and understand the context or content of the information well now.

PHIPEX:
I noticed this nonsense today on my account. This is another policy somersault. This people are only interested in frustrating Nigerians.

How do you peg my daily transfer to 50k meaning we should all return to queuing in the banking hall? Why are we returning to 1990 Banking system instead of going forward?

kingsways:
Nigerian bankers are the most brilliant set of Nigerians


Nigerian backing industry are the most innovative in the world

adenigga:


Source: https:///CBN-Sets-N50000-As-Daily-Limit-On-Contactless-Payments

Bebigiby1:
Before the 2023 presidential election, I warned Nigerians about the consequences of allowing Tinubu and APC's evil government to continue, many in this forum didn't listen but continue to support the evil government. This new policy is not so different from policies under Emefiele that led to the current economic disastrous situation we are facing today. Until Nigerians decide to overlook tribe, religion and fight these evil leaders things may get worse.... As it stands it is not getting better....

This policy just like the naira swap policy will violate people's right to spend and earn. It will further destroy Nigeria's economy....

RubiesBanking:


A contactless payment does not require you to swipe your card though a POS machine or make interactive contact with your device to do a transfer before you make payment.

With contactless payment, you just hover your card or a device next to a supported machine and it's much more secure.

Any phone that is NFC [Near-Field Communication] enabled will also be able to utilize this feature, also you can use your credit or debit card if it has a RFID chip embedded in it.

Here's how a contactless payment typically works

1. The customer presents his contactless card or NFC enable phone over a POS terminal that accepts such payments
2. The wireless chip transmits card information
3. The payment terminal contact the bank
4. The card issuer transmits an approval or a denial.

Here is a small video explaining graphically what all this mean


https://www.youtube.com/watch?v=2nldPwska-8

YOU ALSO HAVE TO BE CAREFUL BECAUSE ANYBODY CAN SCAN YOUR CARD AND EASILY MAKE FRAUDULENT TRANSACTIONS
https://www.youtube.com/shorts/3C2wK7TFP0c

cc. Sablexxxtoons yaki84 PHIPEX

obailala:





This is for contactless payments, not your regular transfer or card payment.

With contactless payment cards, all you need do is bring your card close to a compliant POS machine and payment would be automatically taken from your card without you having to insert the card in the machine or inputting your pin. Contactless payments don't exist in Nigeria YET; I'm guessing they're just about to introduce it. But I doubt it would work in Nigeria though, especially given the sheer number of fraudsters we have.

wolesmile:
Nigerians will not cease to disappoint due to their half baked Knowledge. Instead of them to seek to understand what contact contactless payment is before commenting, they'd rush to the comment section to spew trash all because they want to talk down on government policies.

obailala:





This is for contactless payments, not your regular transfer or card payment.

With contactless payment cards, all you need do is bring your card close to a compliant POS machine and payment would be automatically taken from your card without you having to insert the card in the machine or inputting your pin. Contactless payments don't exist in Nigeria YET; I'm guessing they're just about to introduce it. But I doubt it would work in Nigeria though, especially given the sheer number of fraudsters we have.

Bebigiby1:
Before the 2023 presidential election, I warned Nigerians about the consequences of allowing Tinubu and APC's evil government to continue, many in this forum didn't listen but continue to support the evil government. This new policy is not so different from policies under Emefiele that led to the current economic disastrous situation we are facing today. Until Nigerians decide to overlook tribe, religion and fight these evil leaders things may get worse.... As it stands it is not getting better....

This policy just like the naira swap policy will violate people's right to spend and earn. It will further destroy Nigeria's economy....

Bebigiby1:
Before the 2023 presidential election, I warned Nigerians about the consequences of allowing Tinubu and APC's evil government to continue, many in this forum didn't listen but continue to support the evil government. This new policy is not so different from policies under Emefiele that led to the current economic disastrous situation we are facing today. Until Nigerians decide to overlook tribe, religion and fight these evil leaders things may get worse.... As it stands it is not getting better....

This policy just like the naira swap policy will violate people's right to spend and earn. It will further destroy Nigeria's economy....

tumababa:


Exactly. People shd try and read the post before concluding that they have limited their daily transactions.

Contactless payments is most likely starting soon in Nigeria whereby u just put ur atm card near d pos machine and transaction is completed. No need of inserting d card inside pos or inputing any pin.
Not sure any bank have started it in Nigeria yet. So i guess it’s a new development.

PHIPEX:
I noticed this nonsense today on my account. This is another policy somersault. This people are only interested in frustrating Nigerians.

How do you peg my daily transfer to 50k meaning we should all return to queuing in the banking hall? Why are we returning to 1990 Banking system instead of going forward?

Shancca:




Seriously, with your comment, it just confirmed to me that Nigerians have problem. Haha! 50k is even too much for contactless transactions. This is to protect you from theft in case you lost your card. UK's is £30. Beyond £30, you cannot use that card for contactless transaction. You have to opt for cash or some other means. To be honest, we might not see change in this country while we wait tirelessly for it. Damn!

obailala:





This is for contactless payments, not your regular transfer or card payment.

With contactless payment cards, all you need do is bring your card close to a compliant POS machine and payment would be automatically taken from your card without you having to insert the card in the machine or inputting your pin. Contactless payments don't exist in Nigeria YET; I'm guessing they're just about to introduce it. But I doubt it would work in Nigeria though, especially given the sheer number of fraudsters we have.

Sablexxxtoons:
The question is what is contactless payment.

PHIPEX:
I noticed this nonsense today on my account. This is another policy somersault. This people are only interested in frustrating Nigerians.

How do you peg my daily transfer to 50k meaning we should all return to queuing in the banking hall? Why are we returning to 1990 Banking system instead of going forward?

OneCandleAway:
Does that mean we can't transfer more than 50k

Bebigiby1:
Before the 2023 presidential election, I warned Nigerians about the consequences of allowing Tinubu and APC's evil government to continue, many in this forum didn't listen but continue to support the evil government. This new policy is not so different from policies under Emefiele that led to the current economic disastrous situation we are facing today. Until Nigerians decide to overlook tribe, religion and fight these evil leaders things may get worse.... As it stands it is not getting better....

This policy just like the naira swap policy will violate people's right to spend and earn. It will further destroy Nigeria's economy....

wolesmile:
Nigerians will not cease to disappoint due to their half baked Knowledge. Instead of them to seek to understand what contact contactless payment is before commenting, they'd rush to the comment section to spew trash all because they want to talk down on government policies.

PHIPEX:
I noticed this nonsense today on my account. This is another policy somersault. This people are only interested in frustrating Nigerians.

How do you peg my daily transfer to 50k meaning we should all return to queuing in the banking hall? Why are we returning to 1990 Banking system instead of going forward?

Bovis:


You lots (Obi supporters) are really stupid, the contactless daily/spending limit is there to protect the customer against overspending should they lose their cards and it gets into the wrong hands. Most EU countries have a lower spending limit on contactless payments