Breaking the limit for Contactless Credit and Debit Card Transactions
If you have gotten a new credit or debit card in the last couple years then you may have or been offered one with contactless (RFID) technology, similar to the technology of Apple or Google pay. This chip coupled with NFC readers allow for users to simply tap and go to purchase things with any store that supports the cards.
This technology comes with a limit in purchase amount to make sure that the user is actually the owner of the card. However, a team of security researchers in the United Kingdom found a way to hack Visa cards to break the purchase limit. This is a cause for alarm for future fraud with contactless cards, allowing for the right person to potentially take a substantial amount.
Because of the innovation in technology on both ends, the card user and thief, only need to be close to each other in order for the transfer of information to happen. At this time, Visa, has stated that they believe that the hacker/thief actually needs to have the card in hand in order to use it, that they are working to improve their fraud detection technology, and that contactless fraud has dropped between 2017 and 2018.
On the researchers side, they found that not only could they take a payment from the card, but they could tell it that a PIN or another form of verification was not needed, or even clone the card for a short period of time.
If you have a contactless card make sure to be aware of your transactions and if there are any fraudulent charges. An easy security option is an RFID secure wallet to protect your cards.
And if you want that RFID security and to carry a bit more check out the Output Faraday Folio Wallet with an added Faraday Sleeve for phone security:
Leave a comment
Comments will be approved before showing up.