In view of the current crisis, we have learned that viruses can leave on banknotes for weeks; and therefore, it is wiser that we perform cashless transactions. Most credit cards nowadays comes with contactless feature. In general for Visa and MasterCard it is called PayWave and PayPass respectively.
With contactless payments, we just need to hold our credit card near to the credit card terminal/reader to make payment without needing to do anything else and the payment will be approved on the spot; therefore our fingers and/or credit card would not be contaminated in anyway from touch (air borne virus that lands on your credit card or hand is a different story, haha).
In order to know if your credit card has the contactless feature, just check if it has the logo below:
Nowadays, practically every merchant’s (Insurance companies, Maxis, Celcom, Restaurants (A&W, McD and KFC too), Departmental Stores, Tyre Shops, Health and Organic Food Outlets, Pharmacies, Speed 99, KK Mart and etc) credit card terminal comes with the Contactless feature. And the banks have been promoting credit cards that offers extra rewards when we use Contactless payments! What this means is we can get better returns with certain credit cards for face to face transactions for any category!
The two main points you must note about Contactless payment are:
- The maximum amount for Contactless Payment is RM250.
- If the amount is more than RM250, then we will be required to key in our Credit Card PIN number; therefore, the transaction is deemed as PIN Based regardless we use our credit card to touch/tap the credit card payment terminal or not.
Once again, in order to be classified as a Best Credit Card by yours truly, the credit card must offer some sort of mechanism for auto annual fee waiver, i.e. FREE for Life without any condition or spend x amount per year or maximum 12 swipes per year.