Smartphones are increasingly becoming the focal point of our daily lives. Whether for organizing the whole family, for navigation, or just for entertainment. Since the linking of electronic banking to smartphones as proof of identity, the processing of private and business banking transactions is hardly imaginable without it. With the possibility of using the mobile phone as a debit card, another essential function moves from the plastic card to the iPhone or Android phone. smartphone nfc

Thanks to the NFC chips that are now standard in current smartphones, the phones can communicate with the corresponding receivers over short distances. This is already known from ATM or ski lift cards. A further prerequisite for the mobile phone as an ATM card, in addition to the NFC function of the mobile phone, is a payment system such as Apple Pay or Google Pay or an electronic purse (wallet).

How secure is the technology?

To make it more difficult for criminals to tap sensitive data, it is well encrypted. In most cases, the actual information on the corresponding payment card is not stored directly on the smartphone or chip, but in the card issuer’s database. The complete information is not transmitted, but only a security token that is decrypted in the bank’s data center. Another advantage: If the mobile phone is lost, you don’t have to apply for a new card, in contrast to losing your card. In addition, roughly the same guidelines apply as for normal payments with a debit card, for example, the mandatory entry of a PIN code above a certain amount.

Mobile phone as an ATM card: Which app is required?

Whether in stationary retail, in restaurants or at vending machines – if you want to pay with your smartphone, there is no way around the top dogs Apple Pay and Google Pay in terms of convenience . They have deeply rooted the apps in their respective iOS and Android operating systems and thus benefit from smooth operation and the highest security standards. The apps are connected directly to the respective bank for the ATM or credit card. Providers such as Garmin Pay or Fitbit Paywork via smartwatches according to the same principle. The setup is very simple, the mobile payment function can usually be activated directly in the electronic banking app. If you have specific questions, it is best to contact the bank directly.

There are also third-party applications such as PayPal or Bluecode . These have advanced functions such as linking to customer cards, top-up credit, transfers or vouchers. In return, these providers are not yet very widespread in retail or gastronomy.

Must-have or gimmick? smartphone nfc

The ability to use your cell phone as an ATM card is a convenient feature for anyone who wants to carry around as little as possible. Especially in summer, it is fine if you only have your keys, mobile phone and sunglasses with you. In addition, it is very useful as a backup when you forget your wallet or the plastic card does not work. But there is no rush to set up or change! One must not forget that in certain situations, it is still necessary to insert the card along with the PIN. The proven plastic cards will stay with us for a long time. smartphone nfc