Wednesday 5 November 2014
Major flaw discovered in Visa contactless cards
From Payment Eye
“The £20 limit on Visa contactless cards can be bypassed by making transactions using foreign currencies, security experts from Newcastle University have found.
Normally a PIN needs to be entered to authenticate larger transactions, but researchers – and potential thieves – are able to bypass this security step and charge as much as the equivalent of £999,999.99 in dollars, euros or any other foreign currency.”
read more>>
Labels:
contactless payments,
IT security,
NFC,
payments,
risk,
Visa