Police chief says safer to keep contactless cap at £30 — Evening Standard — “A poll last month found that more than half of retailers wanted the contactless limit increased… About 2.7p (US$0.04) in every £100 (US$129.70) that was spent was lost to contactless fraud last year.”
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Contactless cards trade security for convenience. While they are easier to use, they are more vulnerable to fraudulent use if lost or stolen than “chip and PIN.”
However, mobiles are no more vulnerable to fraudulent use than EMV cards with PINs. Android, Apple, and Samsung Pay offer the convenience of contactless with the fraud resistance of Chip and PIN.
MasterCard and Zwipe are testing a card with a fingerprint sensor. While more expensive than a standard contactless card, it will be less expensive than a mobile.
The transaction limit has already proven to be unpopular. It will also prove to be temporary.
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