originally published 10/07/2019
As the EMV standard for inserted chip technology evolved as a single specification, device manufacturers and the card brands recognized two modes of contactless technology.
The first mode uses magnetic stripe data (MSD) to submit the transaction. MSD mode is now considered, per Card Brand regulations, no longer acceptable for contactless payments.
The second mode uses EMV data from the chip to submit the transaction. EMV contactless developed as newer generations of EMV devices became capable of supporting contactless in this manner.
EMV Contactless, per Card Brand regs, is the only recognized contactless mode acceptable for contactless.