Nationwide contactless cards

Pincher

DCFC79 wrote: »

Whats wrong with contactless then ?

No signature, no PIN.


A pick pocket just waves it and gets goods.


The daily limit caps the loss, so it's not a disaster, depending on how you see it. A trade off between convenience and potential loss.

SnowTiger

Pincher wrote: »

No signature, no PIN.


A pick pocket just waves it and gets goods.


The daily limit caps the loss, so it's not a disaster, depending on how you see it. A trade off between convenience and potential loss.

It's the bank's loss.

Pincher

SnowTiger wrote: »

It's the bank's loss.

About 15 years ago, I reported a lost credit card.


I was on my way to Heathrow, and my wallet was picked on the Piccadilly line. I had to catch a plane, so only reported it when I got to Amsterdam.


They were extremely hostile when I called.
They came just short of accusing me of deliberately reporting the card lost after making purchases.
As it turns out, no transactions were made that day on that card anyway, so nobody lost anything.


With that history, I find it hard to believe that the card issuer will take a relaxed attitude to any money lost, especially if I only find out I lost the card one day later.

reclusive46

Pincher wrote: »

With that history, I find it hard to believe that the card issuer will take a relaxed attitude to any money lost, especially if I only find out I lost the card one day later.

You do realise that a chip and pin card without contactless can easily be used without a PIN anyway. While I won't discuss methods on an open forum, no technology or expertise is required to commit the fraud.

Contactless fraud in the UK has been practically non-existant though.