InvestorQ : How safe are contactless cards?
riya Ranade made post

How safe are contactless cards?

seema Upadhyaya answered.
3 years ago

This is a very good question. Let’s first understand what a contactless card is: Contactless cards are plastic cards that use a contactless technology called NFC (near field communication) or radio-frequency identification (RFID).

Coming to your question, which is a shared concern of many users, the range at which a card can be read is very short and, even if the criminal is close enough to grab data and do a transaction, he cannot create a copy of the card. The same is not true of magnetic strip cards.

However, the chip and pin card is still the most secure, as they can't be duplicated and they require data (your pin) that is not contained anywhere on the card.

Investopedia further explains the safety in using a contactless card as: If the skimmer gets your card data, his next step is to find a website that doesn't require the three-digit code printed on the back of the card and run transactions under the credit limit. If a criminal steals your physical card, he'll likely head to the nearest store to buy $20 gift cards using tap. While annoying, you can dispute the transactions and get a new card issued. There are also protective card sleeves and wallets that block readers from getting to your card data in the first place.