Paypass, contactless payments – are they safe?

Posted: August 18th, 2013 | Author: | Money

Increasingly, credit cards are added to bank accounts and they allow customers to make contactless payments. They work in such a way that the payment (if the seller has the right terminal) simply put the card to the reader. Not necessary to enter the PIN and authorize the transaction, provided that the total does not exceed 50 dollars. Is it safe?

Images_of_Money / photo on flickr

Images_of_Money / photo on flickr

There is a number of security as well as the limits of a day to make transactions proximity. However, in practice it turns out that this method is not as safe as it seems. To begin with, the seller cannot under any right to demand that the customer any verification. We use a signed women’s name, to be a man, to pay for purchases for the third time in the same store in a quarter of an hour, and the seller cannot really verify who is paying with the card.  In theory, the system should not allow us to perform contactless transactions for an amount exceeding 200 dollars in one day. Those who wish to verify this might be slightly disappointed, because the limit for technical reasons is simply impossible to verify.

Thus it happens that someone can steal your proximity card and you may have an empty account before you realize that you lost the card. Especially if we are close to such a ticket machine that sells a prepaid phone and accepts contactless transactions. How to protect yourself from something like this? Quick response is paramount. It should be a notification SMS and e-mail about what is happening in our account. It is essential to promote such transactions and quickly block the stolen card.

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