Are contactless payment transactions secure?
Yes. Contactless payments, as implemented by American Express, Discover Network, MasterCard and Visa, are secure. The financial payment networks used to process contactless payments are the same networks that process millions of magnetic stripe transactions securely today. The primary difference is that the contactless payment device (card, fob or other form factor) uses radio frequency technology to send payment account information to the merchant’s point-of-sale terminal instead of requiring the payment card’s magnetic stripe to be physically read. Contactless payment devices are designed to operate at very short ranges (less than 2-4 inches) with the POS, and can include additional security elements to further enhance security. The financial payments industry has designed multiple layers of security throughout the traditional credit and debit payment systems to protect all parties involved in a payment transaction.
Yes. Contactless payments, as implemented by American Express, Discover Network, MasterCard and Visa, are secure. The financial payment networks used to process contactless payments are the same networks that process millions of magnetic stripe transactions securely today. The primary difference is that the contactless payment device (card, fob or other form factor) uses radio frequency technology to send payment account information to the merchant’s point-of-sale terminal instead of requiring the payment card’s magnetic stripe to be physically read. Contactless payment devices are designed to operate at very short ranges (less than 2-4 inches) with the POS, and can include additional security elements to further enhance security. The financial payments industry has designed multiple layers of security throughout the traditional credit and debit payment systems to protect all parties involved in a payment transaction. Most of these protective measures are independent of the technology
