contactless card RSS
FCA crackdown on contactless card fraud security flaw
The UK’s FCA has set out measures to tackle contactless card fraud on contactless cards which have been reported lost or stolen. In a letter to the Treasury select committee, the Financial Conduct Authority (FCA) said consumer losses on contactless payments were relatively small but in some circumstances cards could be used by a fraudster several [...]
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Risk of contactless card theft
With contactless payments increasing in popularity, MWR InfoSecurity has warned consumers to be aware of the dangers from a contactless card. It also issued a reminder to retailers and banks that not all fraudulent card theft is the fault of the card owner and more needs to be done to thwart scammers. MWR has developed [...]
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Visa accounts for 61% of contactless card payments in Europe
Contactless card payments achieved a breakthrough in Europe in 2014, as the number of payments grew by 155% – a figure which is forecast to continue to soar over the next few years. Visa is by far the largest scheme in the region for contactless payments. MasterCard PayPass is strong in several developing markets The study, [...]
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One in 10 card transactions now contactless
Contactless card transactions now account for one in 10 card payments, the first time the milestone has been passed, latest figures from The UK Cards Association show. There were 120.5 million contactless card payments in October in the UK, meaning that 10.3% of all card transactions were made using contactless. This has risen from just [...]
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High value mobile contactless payments accepted across Europe by 2017
MasterCard says that everyone will be able to pay with their contactless-enabled device for high value payments (above £30 in the UK) at all contactless terminals in Europe by 2017, the company announced last year that contactless would be accepted at every POS across Europe by 2020. Using payment services such as Apple Pay, consumers can already make [...]
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