The dictionary of digital payments mastercard design

The dictionary of digital payments mastercard design

The ABC of digital payments

ApplePay: apple’s card-based payment service that is built on NFC technology in the stores’ payment terminals, and which enables online shopping in safari browser in webshops that are compatible with apple devices.

Biometrics: identification technology based on evaluating an individual’s distinguishing traits such as fingerprints, voice or facial features. Biometrics technology replaces PIN codes or passwords in the authentication of the purchase or log-in.

Contactless payments: based on technologies (mainly the NFC technology and, as regards samsung pay, the MST technology, cf. Below) thanks to which you do not need to insert your card into the payment terminal’s magnetic card reader or chip reader. All you need to do is hold up your card – or your mobile phone (cf.Mastercard design

digital wallet) – close to the payment terminal, and all the data is transferred wirelessly between them.

Digital wallet: an application in which you can store your debit and credit cards, loyalty cards, delivery address etc. You decide which cards you want to connect to your digital wallet, and which is the card you keep “on top of the stack”, i.E. You mostly want to pay with.

NFC: near field communication is a standards-based wireless connectivity technology. An NFC-enabled mobile phone or payment card can transmit and receive data e.G. At the checkout counter.

MST: magnetic secure transmission is a technology that enables contactless payment between samsung pay payment service and payment terminals that operate without the NFC technology.

Masterpass: A digital wallet service by mastercard.Mastercard design masterpass has been launched in sweden and finland through various banks. Launches in denmark and norway will follow in 2017.

PayPal: as a paypal customer you have a digital wallet in which you can store your eurocard’s information. Thus, you can pay, transfer money and receive payments online, not having to give up your card number.

Samsung pay: samsung’s digital payments service that is both NFC- and MST-based. Samsung pay is already available in sweden for those who have some of the latest samsung phone models and a valid eurocard.

Tokenization: A technology that allows payments without giving up card or account numbers. Instead of your card number, you can use a unique virtual card number that can be used only in that entity where it is placed – such as in a single mobile phone.Mastercard design this is safe and handy for example when your physical card is not within reach. Be that as it may, you can proceed with paying – using your mobile phone.

The ABC of digital payments

ApplePay: apple’s card-based payment service that is built on NFC technology in the stores’ payment terminals, and which enables online shopping in safari browser in webshops that are compatible with apple devices.

Biometrics: identification technology based on evaluating an individual’s distinguishing traits such as fingerprints, voice or facial features. Biometrics technology replaces PIN codes or passwords in the authentication of the purchase or log-in.

Contactless payments: based on technologies (mainly the NFC technology and, as regards samsung pay, the MST technology, cf.Mastercard design below) thanks to which you do not need to insert your card into the payment terminal’s magnetic card reader or chip reader. All you need to do is hold up your card – or your mobile phone (cf. Digital wallet) – close to the payment terminal, and all the data is transferred wirelessly between them.

Digital wallet: an application in which you can store your debit and credit cards, loyalty cards, delivery address etc. You decide which cards you want to connect to your digital wallet, and which is the card you keep “on top of the stack”, i.E. You mostly want to pay with.

NFC: near field communication is a standards-based wireless connectivity technology. An NFC-enabled mobile phone or payment card can transmit and receive data e.G. At the checkout counter.Mastercard design

MST: magnetic secure transmission is a technology that enables contactless payment between samsung pay payment service and payment terminals that operate without the NFC technology.

Masterpass: A digital wallet service by mastercard. Masterpass has been launched in sweden and finland through various banks. Launches in denmark and norway will follow in 2017.

PayPal: as a paypal customer you have a digital wallet in which you can store your eurocard’s information. Thus, you can pay, transfer money and receive payments online, not having to give up your card number.

Samsung pay: samsung’s digital payments service that is both NFC- and MST-based. Samsung pay is already available in sweden for those who have some of the latest samsung phone models and a valid eurocard.Mastercard design

Tokenization: A technology that allows payments without giving up card or account numbers. Instead of your card number, you can use a unique virtual card number that can be used only in that entity where it is placed – such as in a single mobile phone. This is safe and handy for example when your physical card is not within reach. Be that as it may, you can proceed with paying – using your mobile phone.