How does wireless transactions and payments using your phone to tap work?

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How does wireless transactions and payments using your phone to tap work?

In: Technology

The phone tapping is just using very short range radio communication to talk to the payment terminal. That communication provides enough information to complete the transaction by exchanging a uniquely identifying number value. It is based in part on your credit card info but also on the current time which means reusing the information if it was recorded impossible.