In the world of banking, attention has turned to the prospect of using RFID technology for contactless transactions via bank cards.\u00a0 While this in of itself is a security concern, John Leyden brought to light in his article (http:\/\/www.theregister.co.uk\/2008\/01\/27\/paywave\/) that some banks have started phasing in these cards without the consent of their customers. \u00a0\u00a0\u00a0<\/p>\n
In the UK, some banks such as Halifax are trying a system backed by Visa known as PayWave.\u00a0 Under PayWave, customers can make transactions under \u00a310 without the need for a pin or having to sign anything.\u00a0 In the article, we find that Pete is one of the customers upon whom this technology has been pushed without their consent. \u00a0 After destroying the new PayWave card (which he did not request) out of security concerns, Pete found that Halifax had also cancelled his old card.\u00a0 The replacement card Halifax ended up sending him was also a PayWave card.\u00a0 Though Pete was eventually able to obtain a non-PayWave card by enough complaining, it alarms me that banks would presume that convenience outweighs security for every customer.\u00a0 What prevents a \u201cvendor\u201d from rigging up a reader located in a backpack that would allow them to roam the streets charging a small transaction to every passing card.\u00a0 Few people would notice such a miniscule charge on their statements, and the \u201cvendor\u201d could potentially obtain a large sum of money over time. \u00a0 In my opinion, companies that are entrusted with our money should be much more responsible when it comes to security. \u00a0Or at least they should ask their customers first.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the world of banking, attention has turned to the prospect of using RFID technology for contactless transactions via bank cards.\u00a0 While this in of itself is a security concern, John Leyden brought to light in his article (http:\/\/www.theregister.co.uk\/2008\/01\/27\/paywave\/) that … Continue reading