Are Credit Cards With Tap Safe To Use?

When it comes to credit cards, it seems as though everyone is using tap technology nowadays. The old swipe style cards are all but obsolete as more and more financial institutions are issuing cards with tap ability. The technology increases convenience and saves us time whenever we're at the cash register. But a question many have is, are these cards secure? Is Tap safe to use? Do these cards present a security risk? No one wants to be vulnerable to identity theft or fraud, so it's important to do your due diligence.

What if your card falls into the wrong hands?

Because tap works with proximity, there are now mobile apps with the ability to draw information off the RFID chip in your card, as you pass by. All the thief needs to do, is install the app on their phone. They don't even need to handle your card.

It sounds scary, doesn't it? Thankfully, there's a critical piece of information that these card readers cannot access. The security code on the back of your credit card. Even with the card number, expiry date, and your name, there's not much the perpetrator can do without the security code.

How can you protect yourself?

When it comes to this type of theft, there are a couple of ways to protect yourself. The first option includes using certain types of phone cases or sleeves that block anyone from being able to read your tap card info. If you keep your tap card in one of these protective cases, it will be impossible for fraudsters to rip your personal information from your card. When you're ready to pay for something, all you need to do is remove your card from its case.

The other option is to add your payment methods to your smartphone's wallet. Apple Pay will enable you to use your credit and debit cards at the point of purchase but through a much more secure tap method - one that uses your fingerprint for verification. As more and more retailers accept Apple pay, you won't have to carry your physical cards around as often.

So, while the new tap cards do present a risk we never had to face before, there are easy ways to ensure no one can get their hands on your payment information.

What are your thoughts on tap technology? Let us know in the comments!