Do you have a view on contactless cards? Mark Durham (Durham’s, Northampton) raises the question. He asks: “I do wonder about these contactless debit cards; just how secure are they? If someone loses their card anyone can use it, spending £20 a time until the card is blocked. The bank even issued me with a contactless business card – how many businesses spend less than £20 on a card? What is the point?” And he asks: “Are we still responsible for any charge-backs?”
Of course, if someone loses their card then some finders-keepers sort could use it, hopping from shop to shop until the owner realises it is gone and puts a stop on it. After that the bank picks up the tab which is, so far, quite small.
There was some scaremongering a couple of years ago when it was discovered that data transmitted during payments could be picked up from almost half a metre away – the ‘safe’ distance being 10cm. And mobile phones can hack in, in the ‘wrong’ hands.
Some of my son’s mates keep theirs in a protective wallet and make sure they don’t come into contact with other cards (Transport for London warns of ‘card clash’ if you pass your wallet with its Oyster card and others across a reader. It may take the money from the wrong card).
Like all technology it is open to abuse, but fraud is rare. In the first six months of 2014 contactless fraud added up to 0.007% of contactless spending. There must be pluses on this topic?