Contactless Credit Cards & Debit Cards

We are all are familiar with credit cards and debit cards. At present, we don’t have a situation to carry huge amount with us. So we are dependable on contactless payments.

After completing a massive shopping, we are just swiping our card to pay our shopping bill. We are paying many medical bills, and other shopping’s through this cards. Soon this trend may also exchange with plastic money.

But we can’t say how much safe this credit cards and debit cards. We are not aware of hackings which are processing in our cards. To eradicate these issues contactless credit cards and debit cards are introduced. ICICI is the first bank to introduce cards with this concept. SBI and Axis Bank are planning to introduce these cards. Within less time we can see contactless POS everywhere

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How this contactless credit cards and debit cards works

The customer no needs to swipe the card as regular cards and no need to enter your pin. This contactless card works by the simple positioning or tapping the card on POS machine. For these types of cards physical card insertion is not needed as normal cards

These contactless cards are furnished with small, radio chip which works on radio frequency identification (RFID) and it is based on near field communication service to establish a connection.

Contactless cards help to double the transaction speed as compared to traditional credit and debit cards. Users should not share their pin number, CVV number with anyone, by that you fraudulent transactions are reduced.

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Contactless cards are essentially based on NFC technology.  You also have the option to transfer your card details to your NFC-enabled Smartphone and use your Smartphone to make payments instead of the card.

We can’t completely say, no hackings will be done. They are many incidents of hacking; hackers can able to steal data from contactless cards by the use of simple mobile applications.

Martin Emms, a research associate at Newcastle University in England said “Contactless cards is great for usability, but it introduces security flaws that need to be fixed,”

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How to protect your card

While using your contactless card please keep your card within your sight. This is to ensure the third party NFC reader is not able to collect the details from the card. Experts’ advised users, to carry this card in a special wallet which can block NFC or radio waves. If possible place an aluminum foil over the card. Don’t keep hard materials inside the wallet which damages internal chip

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