Contactless payments all the rage in Brazil and around the world; learn about the risks and advantages of this method.
Is contactless payment safe? Understand the risks and advantages
Contactless payments already a reality: in Brazil, the number of these operations grew by almost 700% from 2020 to 2021.
The main reasons for this increase the spe
ease and hygiene of the process, since it does not require inserting the card into the machine and entering the password. But do these advantages outweigh the risks of using the contactless payment method? Let’s understand this together.
How does contactless payment work?
Contactless payment can be activat appl photo iting on virtually all current debit and crit cards. The procure is done via the bank’s app or by contacting a customer service representative directly.
By unlocking this functionality, we can pay for purchases in practically any establishment simply by bringing the card close to the payment machine, without using a password.
Contactless payment also works with digital cards. By activating this option and including the card in a digital wallet, you can make payments simply by bringing your smartphone close to the card reader.
Is contactless payment safe?
Yes, the technology behind contactless payment is secure, and financial institutions and card companies invest in technologies that make fraud using this method more difficult.
Therefore, most of the risks associat with this facility relat to the external world and can be avoid with great attention and c.
Risks of contactless payments
Loss or theft: the main risk involv with contactless payments is the loss or theft of the card. After all, malicious people can use it to make purchases even without the ne for a password. In the case of smartphones, security can be greater, since there is a მომხმარებელთა ქცევა: როგორ მოქმედებს ეს თქვენს გაყიდვებზე? possibility that the cell phone itself will require. A password to release the payment.
Be cful with your back pocket. If your card is kept in your back pocket without any protection, a criminal can easily take advantage of your distraction to approach a card reader and debit certain amounts from your account. It is worth investing in a card holder with RFID blocking to prevent criminals from being able to read your card without you even noticing.
Chang amount: since contactless payment is more dynamic than traditional payment, most people may end up forgetting to check the amount of aleart news the payment being made. Remember: it is very important to confirm on the merchant’s machine screen what is being charg.
How to avoid contactless payment fraud
There a number of precautions and good practices that can be adopt to make contactless payments safer. Check them out!