Contactless Visa Cards exposed to risk of theft?

7 Nov

“With just a mobile phone we created a PoS terminal that could read a card through a wallet,” explained Martin Emms, the project leader. “All the checks are carried out on the card rather than the terminal so at the point of transaction, there is nothing to raise suspicions. By pre-setting the amount you want to transfer, you can bump your mobile against someone’s pocket or swipe your phone over a wallet left on a table and approve a transaction.  In our tests, it took less than a second for the transaction to be approved.”   –  more…Security Affairs

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