Making tap and go payments secure.

Are your contactless payments secure? Image: iStock

Safe tapping: Are your contactless payments secure?

As we embrace the convenience of tapping our way through purchases, an inquiry arises, just how secure are these contactless payments?

Making tap and go payments secure.

Are your contactless payments secure? Image: iStock

Global contactless purchases like tap-and-go are poised to witness a staggering fourfold increase by 2027. Predominantly fueled by the surge in payment-enabled mobile devices like smartphones and smartwatches.

Asserting the enduring nature of contactless payments, Anna Collard, SVP Content Strategy, and Evangelist at KnowBe4 AFRICA, remarks, “As we approach 2024, it is clear that contactless payments are more than a trend; it has staying power.”

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Contactless payments have soared popularity

The undeniable convenience of forgoing a physical wallet is transforming the payment landscape.

“Contactless payments have soared in popularity, transforming the way we pay for goods and services. With the tap of a card or a smartphone, consumers can complete transactions quickly and effortlessly,” said Collard.

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While smartphones and smartwatches are commonly associated with contactless payments. Traditional bank cards also offer tap-and-go technology. Nevertheless, using bank cards for such transactions presents unique risks.

Collard explains, “Fraudsters may attempt to skim or clone your bank card to gain access to your funds.”

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Precautions to take in order to mitigate these risks of tap-and-go payments

To mitigate these risks, consumers are advised to take specific precautions. Collard offers practical tips, including setting a strong passcode, safeguarding Apple ID or other mobile payment apps IDs, enabling biometric authentication, keeping devices nearby, regularly monitoring transactions, and adjusting tap-and-go limits.

Collard encourages consumers to embrace the convenience of tap-and-go payments during events like Black Friday while staying informed about potential risks.

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By understanding security measures, being cautious with personal information, and following practical protection tips, consumers can safely enjoy the ease of contactless payments without falling prey to fraud.