Submitted by jimmysofat6864 t3_10oplmf in explainlikeimfive
ke_co t1_j6g83pb wrote
Reply to comment by 152centimetres in ELI5: Why are contactless payment methods faster than inserting the chip? by jimmysofat6864
I think OP is in the US, we don’t really have chip and PIN here per se, transactions are authorized real-time with the bank. We only need a pin if it’s a debit transaction, but most transactions are handled through the Visa or Mastercard network, even if a direct withdrawal from a checking account.
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