Card payment: Swiping cards, Inserting chip cards, and paying with smartphones, which form should I use?

Currently there are many ways to pay with a POS card when we buy, shop, … But in Vietnam, there are 3 most common payment actions are

Coffee card
Insert the card with the chip
Add a card to Smartphone to pay (Currently only Samsung Pay)
I share a bit about the action of the card (for the magnetic card) and put the card with a Chip.

Between these two forms, the card is more convenient, you do not have to spend a lot of time waiting for the POS machine to load data, if you are using a credit card, you do not need to enter a PIN.

Payment by inserting a card with a Chip (Chip Card) can take from 6s to 12 seconds for some POS to read data, worse than I have encountered a few cases where shoppers are too hasty to forget the card in the POS machine, This is not the case when you swipe the card as you will directly hold the card in your hand and withdraw it.

However, in terms of security, Chip Cards will have advantages over Magnetic Cards (swipe cards). Why?

In the black strip to swipe the card there is a strip of code so when we pay it will sync directly with your bank account. This code is unencrypted, and cannot be changed, in other words, a fixed code
The unencrypted code will make it easier for thieves to steal your account, once information is available, the thief can get many other times.

This will not happen to the Chip Card, the Code data contained in the Chip Card is continuously encrypted with the bank account, when you pay, the thief can not steal that code anymore because it is constantly changing. .

Payment by Smartphone

The first is Samsung Pay, although in Vietnam there is only Samsung Pay but not yet able to use Apple Pay for iPhone users.
Payment via Samsung Pay just touch the phone to the POS device is complete, avoid the risk of information theft when you pay via hard card. Called the short-range NFC solution (Near-Field Communications), but not all POS machines have NFC, Samsung Pay has built-in Magnetic Secure Transmission (MST) technology for magnetic payment, available on all devices. Read the current card.

The security of Samsung Pay is similar to the encrypted code on the Chip Card, the code will constantly change after each payment to prevent hackers.

You will not need to carry a card, carry money, carry a wallet, to avoid other personal risks.

Pay with Timo or Momo, ZaloPay, …

These are also very convenient payment methods for you to avoid the risk of stealing your card information as mentioned above or the hassle of having to hold the card in your body.