Contactless Cards

[Deleted User]

reclusive46 wrote: »

It has nothing to do with what type of card it is. It'll just be a commercial decision by the bank in question.

If you use a contactless payment through credit card, would the amount show up in the monthly credit card balance or straight into your bank account?

Things are moving fast and I'm not catching up. I though contactless payment was limited by industry standard to max £20/30 a day?

Have I understood correctly the meaning of contactless? Is it when you swipe the card instead of using a pin number?

I have a foreign contactless atm card and I'm limited to 20 euro a day.

Rufus_Dufus

ciaccino wrote: »

If you use a contactless payment through credit card, would the amount show up in the monthly credit card balance or straight into your bank account?

monthly credit card balance

ciaccino wrote: »

Things are moving fast and I'm not catching up. I though contactless payment was limited by industry standard to max £20/30 a day?

£20 per transaction

ciaccino wrote: »

Have I understood correctly the meaning of contactless? Is it when you swipe the card instead of using a pin number?

Tap, not swipe.

patman99

By using a single hole punch, you can punch a hole about halfway along the top of the car just above the mag-strip, it cuts the loop used by the RFID chip and renders the contactless payment option useless.

There is good reason for wanting to do this.

There are a growing number of devices on the market with NFC chips built-in. These devices can easily be set up to scan the details from contactless cards and store them for future use.

The info that can be gleaned is Name, Long card number, start & expiry dates and issuing Bank.
Using this info, thieves can spend on sites such as Amazon where the 3-digit security code on the rear panel is not needed.
The thief can even set the phone up to use the details to swipe and pay for goods and services via contactless payment themselves.

Worryingly, the same set-up can be used to scan the biometric chip in passports. To disable this, you need to microwave your passport for 5 seconds. This over-loads the RFID and burns it out.

planteria

ciaccino wrote: »

A credit card by definition cannot be contactless. You probably mean a contactless debit card.

not the case. i have 6 credit cards, all of which are contactless. as are most of my debit cards. no problem at all.

GaleSF63

My HSBC Visa credit card isn't contactless and it was renewed just last month.

planteria

and interesting post patman.. you seem really clear that we should be wary of this technology, which is food for thought:think:

HSBC are certainly going to be issuing all Debit and Credit cards as contactless, along with almost all other providers... it is just a matter of time for each card type.

chattychappy

patman99 wrote: »

The info that can be gleaned is Name, Long card number, start & expiry dates and issuing Bank.

All of which is hardly a secret anyway - it is printed on the card, afterall.

patman99 wrote: »

Using this info, thieves can spend on sites such as Amazon where the 3-digit security code on the rear panel is not needed.
The thief can even set the phone up to use the details to swipe and pay for goods and services via contactless payment themselves.

A hassle to deal with, but all of which is at the risk of the bank and/or the merchant when there is no PIN used.

symphonies

planteria wrote: »

and interesting post patman.. you seem really clear that we should be wary of this technology, which is food for thought:think:

HSBC are certainly going to be issuing all Debit and Credit cards as contactless, along with almost all other providers... it is just a matter of time for each card type.

I hope so. HSBC are my main bank and I'd like to get tap happy with with their credit card as well as their debit card.

I think it's just easier especially if you're travelling around London and hopping on/off buses and trains. Or in my case, buying coffees and pastries.

patman99

The card does, indeed, have all the info embossed on it, but in order for a thief to use that info, s/he would need to be able to get their hands on the actual card.
With contactless, all the thef needs is a mobile phone or tablet with NFC built-in.

By the way, chip & pin is not as secure as you might think either.
Your PIN is tored on the card itself so when you enter it the terminal simply checks what you entered against what is stored on the card and if correct, sends the card details along with the transaction amount to the bank for proccessing.

Trouble is, these terminals can be hacked to store the PIN and card details.