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Myths about Contact-Less Cards

ASB Dispels Contact-Less Card Security Myths

I thought the following information was worth sharing. I know some are not comfortable with yet another bit of technology trying to get money out of their bank account as quickly as possible. If you're in that camp perhaps the following will ease your mind. ASB on the security of contact-less cards >>>

Chip CardI'm all in favour of the new contact-less card technology. It makes cards easier, and much faster than eftpos, and safer than cash. I have no problem using them and do so without a second thought.

All the major banks are now offering this technology. I worked in the ANZ head office for 15 years. I know with absolute certainty that the ANZ would not let anything onto their computer system unless it was going to make them more money than it will cost them.

If there was a security breach and customers started losing money it would be very, very bad for the banks and very, very, very expensive, they really don't want that to happen. Sometimes mistakes are made. There are clever bad people as well as clever good people. One bank might make a silly decision but would all of them? On balance I'm comfortable using contact-less cards.

Before you decide not to use a contact-less card be sure to inform yourself with the facts. You could read a well written piece on the security of contact-less cards from the ASB Bank  >>>

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