Another post about fraud here folks, and this is because you can never read enough about this. The post i’m going to write applies a little more to debit cards at the moment, but as the technology in payment processing advances i’m sure that credit cards will soon be adopting the same technology and all of the major credit card companies will be using it…
I am referring to contactless technology of course, and in particular the chance that your debit or credot card may be stolen and used to buy goods and services to the value of £10 without a PIN number or any identification! This level is soon to rise to £15 also i think in the not too distant future.
If someone steals your cards and you don’t realise it until much later they could have spent an awful lot of money in various different stores before you report it missng. It’s very important that you consider the implications of contactless technology and understand that you are at risk. New technology like this is supposed to make life easier, instead we’re going to see an increase in card theft surely?