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Tapit Cards

How Do They Work?

 All TAPiTAG products are built with the latest NFC technology. This allows
you to share your contact details, social media profiles & much more by
tapping your card off a phone. Your details can be saved instantly to the
receiver’s phone when the save contact button is tap'd.s
 Why Is It Useful And Dangerous At The Same Time?
From The Consumer’s Perspective
Advantages
 Ease of use
Quicker transactions and
shorter queues at the checkout
are the most significant
advantages of contactless
payment. Handling cash is not
a concern at the checkout. You
also don’t have the hassle of
punching in your PIN.
 Safer transactions
Tap-to-pay technology is more
reliable and secure than other
forms of payment. The chip
technology protects you against
any fraudulent purchases through
encryption and dynamic data
technologies.
 The flexibility of payment
devices
Say goodbye to bulky wallets
once you go cashless. Your
NFC-enabled smartphone is all
you need to make your
payments.
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Disadvantages
 Limited acceptance
Retailers are slowly facilitating
contactless payments, but the
consumers continue to remain
dissatisfied with the spotty coverage,
especially among the independent
retailers. However, there is an uptick in
the last couple of years.
 Low transaction limit
As per RBI ruling, contactless
payments carry a capping limit of INR
5000* per contactless transaction in
India. For higher value transactions,
entering a PIN becomes necessary to
protect against fraud. Some of the
consumers may find this rule to hinder
their overall shopping experience.
 Technical limitations
Consumers face certain technical barriers
in case of mobile contactless payments.
The mobile tap-to-pay system needs you to
have an NFC compliant smartphone. 
 Advantages Disadvantages

Better operational efficiency  Security concerned customers 

Adopting tap-to-pay technology is Despite being backed by a robust fraud
faster, with lesser workforce detection system and multi-layered
requirements. Contactless payments security, customers are still wary of using a
reduce the time that businesses spend contactless payment facility. This cautious
on operating card machines or mindset can be a deterrent to businesses
counting cash.  adopting and facilitating tap-to-pay
payments.  

Better customer experience

Studies have shown that businesses
offering contactless payment facilities
provide a smoother and quicker
checkout experience to the customers,
hence earning their loyalty. Stores can
also optimize their loyalty programs
and improve customer relationships.

No extra cost
Providing a contactless payment
facility does not attract any additional
processing fee. Businesses pay the
same fee applicable for a transaction
with a regular credit card. 

Fraud protection
Contactless payment technology is
secure and encrypted to discourage any
hacking attempts

From the Business’s perspective

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 TapitCard Features

Concluding:

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Tapit Card is a safe and environment friendly card. It is best suitable for
business perspective. Nevertheless, it is also suitable for consumers
perspective, but we need to keep the challenges in mind. It is a quicker
method subsiding cash and bringing in more futuristic environment as
required in this developing world.