What are the best contactless payment options?

Question

Utilities

What are the best contactless payment options?

7

Options
Considered

9

User
Recs.

Oct 24, 2019

Last
Updated

5 Options Considered

Best contactless payment options	Price	Last Updated
-- Apple Pay	-	Oct 17, 2016
-- Google Wallet	-	Nov 9, 2015
-- Android Pay	-	Jan 13, 2016
-- Samsung Pay	-	Jul 13, 2015
-- Softcard	-	Jul 13, 2015

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score 3 · Answer 1

Apple Pay

Top Pro

Actual credit card number is obfuscated through Tokenization

Top Con

Works only with iPhone 6 or later

Apple Pay is compatible only with iPhones and only those that include an NFC and Secure Element chips which currently is only iPhone 6 and iPhone 6 Plus. See More

Top Pro

Fingerprint authentication adds secondary authentication without requiring to remember anything

Fingerprint authentication adds secondary authentication before a transaction can be initiated. Additionally, it makes sure that nothing get's bought by accident and doesn't require remembering anything such as a password or a pin to use. See More

Top Con

Works with a limited selection of cards

Top Pro

The most widely used option

Apple Pay is used more than all of the competition combined. See More

Top Pro

No credit card information is stored on Apple's devices or servers (except during setup)

Apple avoids any contact with real credit card information, except during setup at which point all information is handled carefully using encryption throughout the process. See More

See All

score 1 · Answer 2

Google Wallet

Top Pro

Best choice of supported cards through Google's Virtual Card system

Google has a partnership with Bancorp Bank that issues a Virtual Card to Google Wallet users that works as an intermediary between customer's card and merchant. It gives more choice in terms of compatible cards and works as a card fraud mitigation technique. See More

Top Con

Credit card and transaction information is stored on Google's servers

Top Pro

Has a robust fraud protection system

All verified unauthorized transactions reported within 120 days of the transaction are completely refunded. See More

Top Pro

No credit card information is stored on the phone

In case a phone is lost or stolen no access to actual credit card information can be gained. See More

Top Pro

4-digit PIN provides added security through secondary authentication

4-digit PIN that has to be entered before any transaction can take place adds secondary authentication and makes sure that nothing gets bought by accident. See More

See All

score 1 · Answer 3

Android Pay

Top Pro

It's a platform not an app

Android Pay functions as a platform that allows third-party developers to create payment apps on top of it not as a standalone app itself. This potentially will enable higher competition between available frontends and as a result better solutions without having the payment information tied to one tool. See More

Top Pro

Integrates loyalty programs

score 1 · Answer 4

Samsung Pay

Top Pro

Can be used with a traditional credit card swipe reader

Samsung Pay supports Magnetic Secure Transmission technology that allows using the phone to swipe near a credit card swipe reader to pay. The technology currently is only supported in Galaxy S6 and Galaxy S6 Edge phones. See More

Top Con

Killer feature is limited to a subset of smartphones

Magnetic Secure Transmission technology that allows using the phone to swipe near a credit card swipe reader to pay is only supported in Galaxy S6 and Galaxy S6 Edge phones. See More

score 1 · Answer 5

Softcard

Top Con

No tokenization

Real credit card information is provisioned to the SIM card. See More

Top Pro

4-digit PIN provides added security through secondary authentication

4-digit PIN that has to be entered before any transaction can take place adds secondary authentication and makes sure that nothing gets bought by accident. See More

Top Con

Has trouble getting card issuers on board

See All

5 Options Considered

My Recommendation for Apple Pay

My Recommendation for Apple Pay

Actual credit card number is obfuscated through Tokenization

Works only with iPhone 6 or later

Fingerprint authentication adds secondary authentication without requiring to remember anything

Works with a limited selection of cards

The most widely used option

No credit card information is stored on Apple's devices or servers (except during setup)

My Recommendation for Google Wallet

My Recommendation for Google Wallet

Best choice of supported cards through Google's Virtual Card system

Credit card and transaction information is stored on Google's servers

Has a robust fraud protection system

No credit card information is stored on the phone

4-digit PIN provides added security through secondary authentication

My Recommendation for Android Pay

My Recommendation for Android Pay

It's a platform not an app

Integrates loyalty programs

My Recommendation for Samsung Pay

My Recommendation for Samsung Pay

Can be used with a traditional credit card swipe reader

Killer feature is limited to a subset of smartphones

My Recommendation for Softcard

My Recommendation for Softcard

No tokenization

4-digit PIN provides added security through secondary authentication

Has trouble getting card issuers on board

Don't see your favorite option? Add it.

My Recommendation for 支付宝

My Recommendation for 支付宝

My Recommendation for CurrentC

My Recommendation for CurrentC

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