RFID in Credit Cards
Fraud Prevention with RFID-Systems
What’s in Your Wallet
You may not know it, but your credit or debit card may contain a computer chip that transmits your account information without the card leaving your pocket. It sounds scary, but it is there for your convenience.
The Basics of the RFID-System
RFID is the official name for the tiny computer chip. It stands for “Radio-Frequency IDentification,” and is an easy way to scan your card.
As opposed to a barcode system, the device doesn’t need to be placed in a precise location to work, speeding up the checkout process. Other cards need to be swiped through a specific reader, while the RFID-system only needs to be within a few feet of the scanner. All you need to do is place the bag or wallet containing the RFID-system near the scanning device and it will automatically scan for you.
This contactless payment lowers the amount of time at checkout and prevents multiple people from handling the same card, making this system convenient for the average consumer.
The Risks of Identity Theft
These readers can be easily purchased online for about $100, making this type of fraud more likely to occur. The card can be read through a pocket or purse from just a few inches away, making everyone vulnerable to identity theft.
The security codes on the contactless cards are changed with each purchase, so once skimmed the card can only be used for one unauthorized purchase, at any price point.
How to Prevent Fraud
There are many options to protecting your identity, but the easiest option is to use a product such as the NASAFES Credit Card holder. This card holder is designed to protect against scanners, using RFID coated stainless steel to prevent your information from traveling to a card reader that you have not authorized.
Not only does it prevent fraud, but it is also ultra thin and suitable for both men and women. It slides easily into any pocket or purse, and with an affordable price it is the right tool to protect against card fraud.