Radio Frequencies (RF) in E-Payment part 2

Alfina Fauziah Pradhini Hadi NIM: 2301956014

Governments, companies, financial service providers, and transit agencies are choosing contactless smart chip technology to implement new secure identification and payment applications. RF-enabled technology can provide a number of benefits for identity verification applications. For example:

• Speed and comfort. RF-enabled technology can increase the speed and convenience of the identity verification process. A user simply holds an RF-enabled identity credential near the reader and requests the necessary identity information be quickly communicated to the identity verification system. This can increase throughput vs. processes that require users to enter or swipe identity credentials.
• Durability and reliability. RF-enabled technology is perfect for identity verification systems that are exposed to elements and have high usage. Rf-capable smart cards are durable and reliable. RF-enabled smart cards and sealed RF readers prevent damage when identity credentials and readers are exposed to dirt, water, cold, and other harsh environmental conditions.
• RF-enabled smart card technology can enhance the security of identity and credential verification processes — providing secure storage and communication of identity information and making it harder for identity credentials to be falsified or modified.
• RF-enabled smart card technology implements and enforces the issuer’s privacy policy to protect the privacy of individuals.
• Contactless financial payment devices. Consumers tap their contactless payment device on (or wave to) a specially equipped seller terminal, sending payment information wirelessly from the consumer to the seller. The benefits of contactless payments for consumers and sellers have been proven in various applications. Increased convenience for consumers results in increased sales and faster transaction times for sellers. Sellers also enjoy lower costs, due to fewer requirements to handle cash, improved operational efficiency, and lower maintenance costs, resulting from better reliability of contactless readers. By issuing secure contactless smart chip-based payment devices, financial service providers are providing consumers with more convenient payment mechanisms and increasing transaction volume by replacing cash.
• Identify the company and government employees. Both government agencies and companies are increasingly applying smart card-based employee identification badges. These ID badges typically include contactless smart chips for secure physical access to buildings and facilities, as well as contact smart chips for secure logical access to networks and computers.
• Transit payments. Today, almost all new transit fare payment systems in either delivery or procurement use cordless smart chip-based cards as the main ticket medium. Contactless fare payment cards offer better customer convenience, which helps generate passenger growth and increase freight carrier profits. Such cards provide an efficient and convenient replacement for cash, increase security, reduce fraud, and reduce handling costs for freight operators. The implementation of contactless tariff payments also lowers operating costs, due to reader reliability and longer card life.