In general, payment and near field communication is more secure than using a credit card magnetic strip. Merchant payment systems typically from bank cards, store your credit card information, making it relatively easy for hackers to steal it, to make fraudulent purchases. When you use the NFC payment transactions is provided in relation wallet today which means your real account data is replaced with alternatives, if it is pointless to intercept “symbolic.” Similarly, criminals when they have difficulty EMV chip payment card transactions grab information from.
In addition, NFC application, the payment must be “secure element” to store and encrypt your financial documents. Apple said it does not save accou its server numbers on NT. Google said the financial information in Google Wallet is encrypted and stored in a secure server. Softcard that it did not receive transaction data or interception.
For most people, protect their equipment from thieves bigger concern than the payment processing Chief Executive Kevin Johnson, safety concept, safety consulting firm Long said. By using a strong password or PIN to lock your phone screen, or if your device supports it use the fingerprint sensor. Set up remote wipe the phone’s data if it is lost, such as Apple’s Find My iPhone or where is my Android Droid applications. The ability of
To retain an extra close attention to your bank and credit card Michael Eisenberg, CPA and p say, if you use them, the mobile payment account, called Personal finance expert, Eisenberg financial adviser, in Los Angeles.
Find unauthorized charges, as well as emerging technologies may experience any glitches, such as a project to double dipping. If the crooks get to keep your cell phone and use it to make payments, the same liability protection should be applied, if he will steal your card. Legally, you may be responsible for unauthorized credit card spending up to $ 50, and your responsibility fraudulent debit card transactions can be infinite, depending on when you report the problem. But as long as you timely inform the issuer, it may overwrite purchase.