MSE News: Card schemes to tackle contactless flaw

Card schemes are taking action to deal with a security flaw which means lost or stolen contactless cards can be used AFTER they've been cancelled but some of the changes will take months to come in and cards will continue to be usable in some cases...
Read the full story:
'Visa, Mastercard and American Express act to tackle contactless card security flaw'
OfficialStamp.gif
Click reply below to discuss. If you haven!!!8217;t already, join the forum to reply.
Read the latest MSE News
Flag up a news story: [email protected]
Get the Free Martin's Money Tips E-mail

Replies

  • How many end customers have lost money after the card has been cancelled ?
    Queue lots of complaints from those wanting a contactless card with their basic account
  • edited 23 February 2018 at 6:09PM
    AnthornAnthorn Forumite
    4.4K Posts
    edited 23 February 2018 at 6:09PM
    For crying out loud! Why is M.S.E. jumping on this old bandwagon yet again. Must we yet again post that it happens with every card as a safeguard against fraud? Spend, cancel the card and the card can still be debited and rightly so! It's not unique to contactless cards!
  • EctophileEctophile Forumite
    6.2K Posts
    Tenth Anniversary 1,000 Posts Name Dropper
    Forumite
    Anthorn wrote: »
    For crying out loud! Why is M.S.E. jumping on this old bandwagon yet again. Must we yet again post that it happens with every card as a safeguard against fraud? Spend, cancel the card and the card can still be debited and rightly so! It's not unique to contactless cards!

    I have no idea what you are trying to say there. The problem is that you can report your card as stolen, but the person who has stolen the card can still keep spending on the card months after the card was reported stolen. That's not right.

    Worse, some banks will still keep debiting money from the customers' accounts, even after the card was reported stolen, because they have nothing in place to block those transactions. It's left for the customer to claim the money back.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
This discussion has been closed.
Latest News and Guides