Paying without touching is the new touchstone.
It is rather apt that our founder’s last name is Shields, because what we are trying to do at Wi Fold is set up a shield between your daily contactless payments and those trying to seize your information and hard-earned dollars.
When you tap to pay, checkout is secure, convenient and touch-free.
A contactless payment, as the name suggests, doesn’t require any physical contact between the buyer’s smartphone or credit card and the POS. Some debit and credit cards have technology that allows you, the customer, to pay for items by tapping or waving their card above the payment reader. These types of cards are called contactless payments cards.
Tapping to pay uses short-range wireless technology to make secure payments between a contactless chip card or payment-enabled mobile/wearable device and a contactless-enabled checkout terminal. When you tap your card or device near the Contactless Symbol, your payment is sent for authorization.
RFID is a type of radio frequency identification technology that allows us to identify things through radio waves. RFID is nothing new—it’s been used for decades for things like scanning items in grocery stores and luggage on baggage claims and tagging cattle. It’s now increasingly being used to enable contactless mobile payments (and in interactive video gaming like Skylanders or Nintendo's Amiibo).
Security of Contactless Payments
While most contactless payment transactions are safe and secure, identity theft has grown into an epidemic that affects millions of individuals and families every year. One of the most common forms of identity theft is what is known as radio frequency identification skimming. The good news is that now you can help protect yourself from becoming a victim of this particularly stealthy form of digital crime. The Wi Fold™, RFID-blocking wallet enables contactless payment, without having to remove the debit and/or credit card from your wallet.
Enter: Wi Fold™ Wallet
With the pandemic, the world saw a significant rise in the use of contactless payments, but we also saw a rise in identity theft. Although tremendous advances have been made in securing payment card authorization and transactions – safety and security will always be of paramount importance. The Wi Fold™ Wallet is designed to provide seamless use and protection of contactless payment cards.