What are the disadvantages of using contactless payments?

What are the disadvantages of using contactless payments?

What is contactless payment

To understand the guarantees that contactless cards have, and the advantages and disadvantages they offer to the consumer, it is important to understand how these plastics work. Contactless cards use NFC (“Near Field Communications”) technology to allow you to pay for any purchase. This short-range wireless system allows two devices that are just a few centimeters apart to transmit information to each other: in this case, data to authorize a payment in a 100% secure manner. In this way, you no longer need to put your card in a sales terminal to make any transaction, but just by being less than three centimeters away, you can complete the transaction.

Even if an establishment does not have a contactless terminal – that is, if it only has a traditional one – you will still be able to use your contactless card to make your purchases. Cards incorporating this technology are still equipped with a magnetic stripe, so you can make any type of purchase as you have done all your life.

Contactless

The word mobile is at its peak, never before has it been given so much importance and so many nouns associated with it. If there was an online Marketing, now there is a Mobile Marketing, if there was the traditional web, now there is the mobile web and of course if there is e-commerce, it also has its corresponding mobile adjective next to it.

The market of applications associated with this type of devices is in a permanent boom and you can find applications for virtually every aspect of daily life of any person: leisure applications, personal organization, reading, press, banking, stock market … and it was a matter of time before someone or several people launched applications that allow users to make payments and collections from their smart terminals.

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As with almost all technological innovations, at first all that comes to light are the advantages and advances they bring, but once the boom of the premiere has passed, there are also analyses that reveal some of their weaknesses.

Contactless card

For the people working at the checkout, contactless payment is also an advantage: it makes the purchase process much faster and increases their level of sales, decreasing the long queues that occur in this type of business.

The range in NFC transmission is very short, less than an inch, so the first line of defense is physical. The reader, in essence, should be next to the card, so it could not be done clandestinely.

In addition, a custom reader could be mounted to operate at long range. For example, researchers at the University of Surrey demonstrated that a compact scanner is capable of reading NFC data at a distance of 80cm.

Most smartphones today are equipped with an NFC module. Apparently, we usually place our smartphones near our wallet, in a purse or in our pocket. Rodriguez and Vila came up with the concept of an Android Trojan, which can turn the smartphone into an NFC reader.

Contactless cards security

Created on 9/22/2020|Updated on June 12, 2020There is a fine line between developing one of your passions as a career or doing it as a hobby. The difference lies in a single element (what differentiates a profession from a hobby): money. Or in other words, whether or not you get paid for the services you offer or the products you sell. Getting paid is one of the most important (if not the most important) component of any freelance career. And as I guess you already know, you should do everything you can to make it as easy as possible for your potential clients to get paid. In fact, it would be a big mistake not to consider (and use) different payment methods to collect your invoices, but what is the best option – each payment method has its own advantages and disadvantages. Here are some of them.

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