Most major banks and credit card issuers have launched a new type of credit card. With the new card, which has a contactless payment function, all you need to do is wave the card in front of the card machine. For transactions under $100 you do not need your PIN code or signature to approve the transaction. Contactless payments have rapidly become popular. They are faster and more convenient than other ways of paying (such as swiping your card or sticking it in the machine). However, the new cards also lead to an increased risk of credit card fraud.
This is what you need to know
Today, you can complete a transaction without the need to ever touch the payment terminal. As long as the credit card is close to the terminal, it will read the card’s information. So, what makes this possible? Most new credit and debit cards contain a contactless chip that has all of your card’s information stored on it. Your card data is not encrypted and is read without any prior permission from you. As long as the card and the reader are close enough, the reader will read the card information. This is convenient when out shopping, but unfortunately this feature also allows criminals to read your card information without you noticing it.
Reading a credit card wirelessly
A cheap RFID reader bought online or a regular cell phone is all a criminal need to scan your cards wirelessly. Since all new smartphones have the contactless reader built into them, it doesn’t take much to turn into a contactless criminal. The criminal just has to download one of several skimming apps available. Then the everyday smartphone is turned into a money machine for the criminal as he can steal card information from unaware victims. The criminal gets all the information he needs to use your card online. In addition to that, on some skimmers they can even see the recent transactions you’ve made with the card.
As many as 35% of all Americans have been a victim of card fraud, and this is one of the most common crimes in the US. In addition to losing money, it often leads to lowered credit scores and an unpleasant experience for the victim.
How to protect yourself
The most efficient way of stopping credit card fraud is by preventing the criminal from ever getting hold of your card information. Without those precious numbers, the criminal can never fraudulently use your credit or debit cards.
SkimSure has developed a patent-pending solution that stops wireless theft from happening. With the SkimSure card in your wallet, it’s impossible for fraudsters to get your card information. The SkimSure card looks just like a regular credit card, but it contains technology that sends out an interference signal. It blocks all attempts to read your card information. The SkimSure card can be bought exclusively on SkimSure.com or in Best Buy stores nationwide.
Protect your credit and debit cards now. Click here to get your SkimSure card today.