Credit card institutions and the savings bank association have developed their own online payment systems with contactless NFC credit cards and are trying to establish these on the market.
The system is called Girogo at the Sparkassenverband, Paypass at Mastercard and Paywave at Visa. All payment systems work with NFC credit cards in passive mode. This means that the credit cards receive their energy from the NFC reader via the electromagnetic field.
Paywave works without a credit amount. The user can pay small amounts bi 25,- directly contactless by holding the NFC credit card close to the NFC reader. During the payment process, only the invoice amount, the credit card number and the due date are transferred from the NFC credit card to the NFC terminal.
The transaction is confirmed by a confirmation signal that is transmitted immediately after the payment process. Settlement takes place via the credit card statement. The Paywave system is being offered on a trial basis in cabs and accepted by various service station chains.