My husband isn’t convinced contactless payments are secure, so he’s still using the chip and pin function. But is he right to be concerned?
Having used (and overused) contactless cards for more than five years, I don’t give a second thought to tapping my card while out eating and drinking, getting on the train or bus, or buying groceries.
A family member bought me a card protector a few years ago, but it currently sits in a drawer.
Contactless spending continues to grow, too. According to UK Finance, payments in the UK surged by 31% in 2018, and 20 million transactions take place every day.
They’ve now even overtaken chip and pin payments.
But is my husband right to be concerned, and should I be taking the security risk more seriously?
What are the concerns?
The most talked about type of contactless card fraud is card skimming, when a fraudster uses contactless technology to steal key card details from you while you’re out and about.
Most of us have seen images online of a shady character who has sidled up to an unsuspecting victim on the train, card reader in hand.
My husband’s concern about this type of fraud isn’t completely unfounded –in a 2015 investigation we found that we were able to easily acquire card details using cheap contactless technology.
In reality, though, contactless fraud only accounted for 3% of total card fraud in 2017. And, according to UK Finance, no contactless fraud has been recorded on cards still in the possession of the original owner – meaning that while contactless card skimming is possible, the risks are very low.
Are you worried about the security of contactless cards? Do you own a protective card defender? What concerns you the most about contactless payments? Does the £30 limit give you peace of mind?
So, do the benefits of contactless payments outweigh the risks?
Contactless allows me to spend up to £30 with an instant tap, and I can use it on my bank card or smartphone. On an average day, I tap my card or mobile at least five times without even really noticing.
My oyster card sits unused in a drawer – I switched to paying for my travel directly with my card with an instant tap – and this morning I paid for a packet of mints easily with my card as I rarely carry cash.
I’ll buy my shopping for dinner using contactless too. My husband has now, slightly begrudgingly, started using contactless for small payments.
Do you use contactless payments? Were you once cautious about contactless, but are now a contactless convert? Do you use contactless payment apps, such as Apple Pay or Google Pay, on your smartphone or wearable?