This technology is set to change the way you make payments

Mumbai: The merchant at your neighbourhood store (kirana) may soon be able receive small-ticket payments on his smartphone for purchases you make using contactless cards.

This is a step up from using hefty Point of Sale (POS) devices.

Global payments major Visa is set to enable POS operators and fintech companies to upgrade merchant smartphones with NFC (Near Field Communication) and RFID (Radio Frequency Identification) technology to accept digital transactions from contactless cards.

The technology, called ‘Tap to Phone’, will allow merchants to process payments made through contactless cards directly on their smartphones without having to use the swipe machines.