In recent years, contactless technology has gained popularity in various establishments such as supermarkets, ice cream parlors, and cinemas. This form of digital payment eliminates the need for cash or card insertion into a payment terminal, making transactions quick and convenient. In Argentina, this technology is becoming increasingly common in virtual wallets, adding a new dimension to payment options for users.
Near Field Communication (NFC) is the technology behind contactless payments, allowing data transfer between compatible devices within a short range. This feature is available in certain cell phones with NFC technology, enabling users to make mobile payments and transfer files between devices seamlessly. NFC works by generating an electromagnetic field between devices, ensuring fast and secure data transfer.
Two major technology companies, Google and Apple, have introduced their virtual wallets in Argentina, incorporating NFC technology for contactless payments. Apple Pay and Google Wallet enable users to load their debit or credit cards onto their devices and make contactless payments by simply tapping their smartphones on compatible terminals. This technology offers a convenient and efficient way to make financial transactions in stores and online.
The development of virtual wallets has brought contactless payments to the forefront of the market in Argentina. These platforms offer added security and simplicity for users to manage their money and make transactions seamlessly. While these apps are still in development and testing stages, they are expected to revolutionize the way Argentinians make payments in the near future.