Visa’s safety and security advice for contactless payments When using contactless payments, it is important to consider: * The consumer must ensure their card or device is enabled for contactless payments. * When making a purchase, the consumer only needs to tap their contactless-enabled device or card to the payment terminal. * The point of sale emits a visual or audible signal indicating that the transaction has been sent to the card issuer's bank for approval. * Visa security risk analyses are applied to verify the transaction. * The issuer's bank response returns, indicating whether the purchase can proceed. The contactless card or contactless-enabled device is secure for several reasons: * Each transaction is accompanied by a unique code that securely protects cardholder payment information. * Contactless technology requires the merchant to initiate the payment first, and the contactless card or contactless-enabled device must be held in close proximity (2.5-5 cm) to the terminal for the transaction to occur. * Contactless transactions are reliable and secure, in the rare event of an unintended transaction, cardholders have multiple ways to contact their issuing bank to initiate a refund request. * Additionally, various financial institutions offer instant alerts about transactions made with their credentials, and cardholders have channels to contact their issuers in case there are unauthorized transactions in their statements. Source: Visa shares security tips for using contactless payments Guardian, Wednesday, 20241002 https://www.guardian.co.tt/news/visa-shares-security-tips-for-using-contactless-payments-6.2.2124378.59a7111852 |