Synchrony has made it a top priority to promote contactless payment in the post-coronavirus environment where consumers want to minimize viral spread. The Stamford, Conn.-based card issuer plans to ...

The benefits of NFC technology in ATMs extend beyond convenience. By eliminating the need for physical cards, it reduces the risk of card cloning and skimming, common fraud techniques.

The NFC or RFID circuits are disconnected when in your wallet, and information is only accessible when you place you finger on a certain part of the card, connecting the circuit.

NFC tags come in various form factors, ranging from small stickers to credit card-like plastic cards. It’s worth noting that powered NFC smartphones are also capable of acting as an NFC tag.

Most debit and credit cards these days already have an NFC tag built-in. The aforementioned apps simply emulate these tags, with permission from the issuing bank or financial institution.

The card was met with great enthusiasm when it was announced in November 2013, with more than 20,000 people pre-ordering Coin at a discounted price of $55. At the time, the company said the device ...