Contactless payment is the latest trending thing in the digital-payments world all across the globe. Essentially, it involves holding your credit card close to a designated pay point and built-in chips authorize the sale. All you have to do is tap and go. While contactless payments are a norm in places like the UK, Canada and Japan, India is catching up with it at a steady pace. If you are planning a trip abroad to any of the places given in this list, the contactless travel card can be a smart travel accessory to have.
What is a Contactless Travel Card?
A contactless travel card is a prepaid multi-currency card that lets you pay with ease with just a tap. You don’t need to enter the PIN manually every time you transact in foreign currency while travelling abroad. Since a lot of POS terminals abroad accept contactless payments, a forex card with a contactless payment feature can be useful as it will act similarly to a credit/debit card without any additional foreign exchange charges.
Where to purchase a contactless card from?
BookMyForex is India’s first and largest online currency exchange marketplace. You can purchase multi-currency travel card which comes with the contactless payment feature from our website or mobile app. The card has zero issuance fee and minimal ATM currency withdrawal charges across the category. You can load multiple currencies on the same card and also unlike other cards such as a debit or credit card, there are no hidden currency conversion charges involved.
Which are the best places to visit with a contactless travel card?
Here is a list of places that will let you make the optimal use of your contactless travel card:
1.Canada: Canada is one of the leading countries when it comes to contactless payments. It is estimated that over 80% of major Canadian retailers are now accepting contactless payments and that 10% of all domestic transactions are done this way. Most of the merchants and POS terminals have the ‘tap and pay’ feature making a contactless travel card worthy while travelling to Canada.
2.Sweden: With just 32 ATMs per 100,000 people and over 98% of its citizens owning a debit/credit card, Sweden is the most cashless society in the world today. Following suit is its Nordic neighbours. Cash accounts for less than 1% of payments in Sweden. Merchants, local shops and even small vendor carts in Sweden have the tap and pay facilities for not just locals but tourists alike. It is not just practical but a smart move to carry a contactless travel card when visiting Sweden.
3.South Korea: South Korea is an emerging tourist destination. It has a lot to offer with its tradition, culture, amazing food and a breathtaking landscape. South Korea is also one of the fast-paced economies largely moving forward with the contactless payment culture with lots of emerging payment apps and cards for food, transportation and shopping. Carrying a contactless travel card can be of great help when travelling to South Korea.
4.Australia: A large percentage of of Australians own a contactless card, making it one of the world’s most highly developed contactless markets. GlobalData, a leading data and analytics company, estimates that contactless cards in the country will increase to 68.9 million by 2023. A majority of POS terminals in Australia, including those of transportation facilities have contactless payment facilities. Australia is also a leading destination for Indian tourists making it one of the top places to visit with a contactless travel card.
5.United Kingdom: There has been a rapid increase in contactless payments in the UK, with almost a third of all payments now made using this method. London, a famous travel destination, became a hotspot for contactless payments especially after its introduction of the  pay-as-you-go option in London’s transportation – ‘tube’. Ever since then contactless payments have been on a rise with retailers, famous food chains like Starbucks and McDonald’s and transport mediums.If you are planning a trip to the UK carrying a contactless travel card is a must.
6.Singapore: A major tourist hotspot, Singapore is on a fast track when it comes to contactless payments. The Singapore Land Transport Authority introduced Visa cards to its contactless transit payments initiative few years ago. A contactless travel card also works the same way for transportation in Singapore as any other debit or credit card. Besides transport facilities, various merchants and vendors also have contactless POS terminals making a contactless travel card extremely useful while visiting Singapore.
About the Author
Gourav Pilania is the Content Manager at BookMyForex. Gourav has a penchant for writing with his work published in some of most prominent publications including Forbes India, International Business Times, The Hindu & many more. Gourav knows a thing or two about the equity markets and he is also a massive Liverpool Football Club supporter.
