Over the past five years, Contactless payments have rapidly entered the mainstream. They allow us to buy things without having to swipe-and-sign, or key in our PIN numbers into point-of-sale machines. They’re the epitome of digital laziness, which perhaps explains why their popularity has soared. But are they secure? What threats surround this new financial fad? More importantly, should you sign up? How Contactless Payments Works Before we get into the various threats associated with contactless payments, we might as well explain how they work in a very general, fundamental way. The cornerstone technologies of contactless payments is NFC (Near…
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