How secure is contactless credit card technology and how widespread is it in Latin America?

contactless credit card technology contactless credit card technology
contactless credit card technology

contactless credit card technology: He logo of contactless payments, also called “contactless”, appears timidly in Latin America, and this year significant progress is expected in the introduction of this technology, which allows you to make purchases and make payments faster without losing sight of the card.

contactless credit card technology

Plastic is no longer inserted into the terminal. By simply bringing it closer, the Wireless Short-range Waves allow you to connect two devices and complete the transaction.

Although the sticker that encourages non-contact use continues to spread, its use in Latin America lags far behind other regions.

Money is always king and many people do not even have a bank card.

Among those who do, there is also a concern about security.

The contactless payment logo is gradually spreading to stores, food service establishments and gas stations in Latin America.

And that consumers of this service have the same protection as the traditional card as claimed by banking entities.

If the bank confirms that the purchase was made without the permission of the client, it returns the amount.

but is the payment secure? contactless ? Can they steal our data?

Can you crack these wireless waves and shop without our permission?

The contactless payment logo is gradually spreading to stores, food service establishments and gas stations in Latin America.

And that consumers of this service have the same protection as the traditional card as claimed by banking entities.

If the bank confirms that the purchase was made without the permission of the client, it returns the amount.

but is the payment secure? contactless ? Can they steal our data?

Can you crack these wireless waves and shop without our permission?

contactless credit card technology contactless credit card technology
contactless credit card technology

difficult but not impossible.

“In the laboratory, under ideal conditions, maps can be cloned according to the purpose and type of technology,” explains Miguel Herrero Collantes of the Cyber ​​Security Council of the Council of the European Union.

“Experience tells us that the transfer of payment is a slow process (from 5 to 10 seconds) and the card must be blocked by the reader for everything to work,” he says.

But for us to break the signal , the Intruder must be very close to the map and it will not move at any time.

“Communication is very sensitive to movement and the transfer is immediately disconnected, says Ricardo J. Rodriguez, a researcher at the Aragon Institute for Engineering Studies (I3A) and professor at the Center of Defense of Saragossa University, both in Spain.

False Myths

“A few years ago, a video was distributed in which a person was approaching a data collection terminal in order to load a card onto a card that was in his back pocket.” he explains.

Both experts agree that in situations of everyday life it is unlikely that we steal data from a card that is in our pocket, purse or purse. , destroys the myth, this “contactless” technology is less secure.

Technological improvements

However, it is true that the first models of this type of payment have encrypted data card number, cardholder name and expiration date.

It was then that the banks, warned about this serious security failure, decided not to include the name of the owner on the chip and leave it printed on plastic

When a purchase is made, the transfer no longer includes the name of the cardholder.

Without this , our data fraud becomes more complex and criminals must develop other formulas.

“However, it’s only with this information that you can commit fraud by buying online at some online stores like Amazon,” said Rodrigo Rios Gigon of Dreamlab Technologies AG, a cybersecurity company

Because if there is something truthful, the more sophisticated we are in technology, the more complex the flight methods.

Where is the danger?

It may happen to us that a malicious application installed on our mobile phone steals data from our map and sends it to attackers.

You are trying to communicate using Wi-Fi or Bluetooth with a card and extract the information you need, such as the card number and expiration date, said Rodriguez.

And then you have the opportunity to “steal” money from a contactless card to remotely or fraudulently use your data, this professor at the University Center for Defense of Zaragoza writes.

To combat this, the key is to pay attention to the applications that we download . There are two other things that can help us manage our contactless payment systems.

Extra precautions

Experts consulted by the BBC, agree that aluminum wallets have become very popular additional concerns about our contactless cards.

“This type of wallet made of conductive material such as aluminum prevents card activation and therefore reads them based on a physical phenomenon called Faraday Cage . This is an effective, though sometimes unattractive, defense,” Herrero said

By the same principle, trim the gearbox has another product that is gaining popularity.

radio frequency cards that are placed together with others that we carry in our wallet.

Its use eliminates the entry of “extraneous” electromagnetic signals and allows you to read plastic information.

Expansion in Latin America

Despite the dexterity and convenience of these payments, contactless are not popularized in Latin America.

More than half of Latin American consumers do not have a bank account, and up to 90% of payments made in retail stores are still made in cash.

“On the cultural side, money is difficult to move, as it is certainly the preferred payment method for consumers, and that virtually no other payment method offers a better user experience for consumers. daily purchases, “according to a study conducted by consulting firm Americas Market Intelligence for Visa.

However, until now, in 2020, small changes indicate that transactions are moving towards a contactless payment environment.

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