But not everyone shares his concerns about card security, or rather the lack of it. One of them is Julian Phillips, vice-president, Acceptance and Commercial Development UAE, smart cards, who counters the research was centered on magnetic stripe cards which by their very nature cannot offer the same high levels of security offered by chip cards.
‘‘MasterCard PayPass–enabled cards and devices are processed through the same financial payments network that processes millions of combo cardstransactions securely today. Security on these payments is therefore certainly not ‘easily’ breached,” he says.
The contactless cards company recently announced a record 28 per cent growth in contactless payments technology through its MasterCard PayPass. This network now has nearly 700,000 merchant locations in 51 countries.
Is your credit card data safe or is it being compromised by the use of rfid inlay? Is electronic pickpocketing real? Khaleej Times takes a closer look
Imagine this shop and shock scenario. You cart a load of groceries from the supermarket shelf to a terminal and pay by scanning your credit card, glad that you won’t be joining the queue at the counter where a clerk swipes plastic for approval.
It’s called ‘contactless’ shopping and is fast gaining currency, thanks to Radio Frequency Identification RFID CARD. But wait.
Unknownest to you, a hacker in the vicinity might be using a device to read the data stored on your card. He could be one of the many faces thronging the crowded parking lot with combo cards in hand which covertly reads your card details and transmits it to a computer. The pilfered data is duplicated on another card for more shopping on your behalf using the clone as you stare in shock at the declining balance.
time is not a luxury they can afford to waste.
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