Following the development of QR code payment, Contactless Payment has been recently introduced in Vietnam market as a modern payment method. Comparing to a regular card, a Contactless cards benefits its card holder and merchants for being a quick, convenient and secured payment method.

One of the outstanding advantages of contactless payment is shortening processing time, thus increasing customer experience. The cardholder simply needs to hover or tap the card near the contactless card reader when performing the payment transaction. No more small changes and signing on receipt for bills under VND1 million.

From a merchant standpoint, accepting contactless payments allows them to increase productivity and business activity. Currently, the contactless card readers can be found widely in convenient stores, restaurants, supermarkets, shopping malls such as KFC, CGV, Circle K, Coopmart…

Contactless payment is a secure and trustworthy way of paying for goods, preventing card fraud loss, and has been proved for being a more secured method.

Follow the steps below to place a transaction with a contactless card:

- Step 1: Look for the contactless symbol when checkout to see if the method is present.

- Step 2: Cashier input the amount into the card reader.

- Step 3: Hover the contactless card, keep the distance within 4cm

- Step 4: When the transaction is successfully performed, the card reader will notify message “Approved” with a beep or light blinking. Cardholder may request a receipt for the payment.

Constantly updating latest tech trend, in December 2019, BIDV launched the card product BIDV Visa Platinum Cashback using EMV Contactless technology, allowing cardholder to hover or tap the card near the contactless card reader when performing the payment transaction instead of inserting or swiping the card onto the reader.

BIDV Cashback Platinum credit card using contactless technology