We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Evolution Money
Customer Enquiries 0161 814 9158
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue
Home > Are contactless cards worth the risk?

Are contactless cards worth the risk?

12th June 2017 | Published by Henry

It’s not difficult to see why contactless cards have become so popular. Who wouldn’t prefer to pay for small purchases like coffees and train tickets with a single tap? But while £25.3bn was spent using the contactless cards last year, new figures from Financial Fraud Action UK suggest that we should be cautious when using the technology.

Contactless fraud recently grew by almost 150% in 2016 – increasing from £2.8m to £6.9m in the space of a year. This might only represent 1.1% of total card fraud, but with contactless adoption still on the rise, it’s worth knowing the risks.

In 2015 the consumer comparison website Which? discovered a flaw in contactless cards using a card-reading technology which is easy to obtain online. They were able to remotely steal details from a number of sample cards, using them to make purchases including a £3000 TV.
While a £30 limit exists on payments made in store on contactless cards, this exploit makes the limit irrelevant, as it only requires the card details which you would typically use in an online purchase.

A more immediate risk comes from the fact that many businesses process contactless payments offline, with card machines storing up a number of payments which will be processed long after the transaction. This allows fraudsters to use cards which have been cancelled, often without the victim’s knowledge, as some banks don’t inform their customers when a cancelled card has been used.

This places the onus on customers to discover and challenge fraudulent payments on their cards, which can be difficult considering the huge range of minor transactions which they are now used for.

How to avoid contactless card fraud

There are a few key steps you can take to avoid contactless fraud. While it might sound like the equivalent of wearing a tin foil hat, using a specially lined wallet could help to prevent your card from being ‘skimmed’ (having its details stolen) by scammers.

You should also be careful to never hand over your card to servers in bars, cafes and shops who may use the opportunity to run it through a skimming device while out of sight. Asking for receipts is also important, as they frequently aren’t offered to contactless users. Frequently checking your transactions will help to ensure that you are aware of any unusual transactions and that you aren’t being overcharged.

Category: Homepage, Money
This post was written by Henry
Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 90 out of 100, based on 112 reviews over the past year. 112 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoThe Finance & Leasing Association is the leading trade body for the motor finance, asset finance and consumer credit industries in the UK.


Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Pin us on Pinterest
Add us on Google+

Our Address

Evolution Money,
9 Portland Street,
M1 3BE

Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2018 Evolution Money | Privacy Policy | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions
Apply Online
I want to borrow £

You will receive a call today to continue with your application.
Thank you for taking the time to fill in our online enquiry form. Unfortunately in this instance we won't be able to help as being a homeowner is one of our primary requirements.
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution