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Tap & Go Credit and Debit Cards

The option to "tap" your credit or debit card was introduced a few years ago and is expanding quickly. How exactly does this work? These RFID (Radio Frequency Identification) cards send a code to a retailer's "reader" when you agree to make a purchase. The information is sent via an encrypted signal, which can only be used once at most.

The tap option is available for small amounts (usually $50 and under), and many financial institutions and issuers that offer Tap & Go credit cards have the option of setting daily or weekly transaction limits. Once the limit is reached, you’ll be asked to insert your card and enter your PIN, which will reset your cumulative spend limits. Both security features are important if you happen to leave the card behind on a counter and someone else picks it up, which is a concern that many have in regards to tap cards.

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