Contactless Payment Card - A big security risk
Have you ever used a contactless card to pay for goods up to 20 gbp at a local store?
Well, this is very convenient, let's face it, that's because you're simply touching the screen and make the payment, is that easy.
But because you're not using a PIN (in a form of biometrics) or similar, there's a big security risk involved.
And you know what several banks have done to avoid any dispute on that, they don't issue any receipt for the transaction, therefore no proof.
In my opinion this is BAD, really BAD, I've heard they are going to lift this limit as soon as it will become generally available. Since banks are now sending contactless cards by default, the risk is there, and rather than update the security on the system or come up with other ways of securing the POS's and the cards (like fingerprint in Apple Pay), they would rather prefer current approach which is not great, I don't even understand how it got approved by Government or Financial Conduct Authority (FCA)!! It's probably because banks have taken this risk as "acceptable".
I've complained about this to my bank, but they didn't care that much..we should all be doing it to actually make a change..
Well, this is very convenient, let's face it, that's because you're simply touching the screen and make the payment, is that easy.
But because you're not using a PIN (in a form of biometrics) or similar, there's a big security risk involved.
And you know what several banks have done to avoid any dispute on that, they don't issue any receipt for the transaction, therefore no proof.
In my opinion this is BAD, really BAD, I've heard they are going to lift this limit as soon as it will become generally available. Since banks are now sending contactless cards by default, the risk is there, and rather than update the security on the system or come up with other ways of securing the POS's and the cards (like fingerprint in Apple Pay), they would rather prefer current approach which is not great, I don't even understand how it got approved by Government or Financial Conduct Authority (FCA)!! It's probably because banks have taken this risk as "acceptable".
I've complained about this to my bank, but they didn't care that much..we should all be doing it to actually make a change..
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