Got my new debit card yesteday

Trade

Trade

Well-known Member
I didn't realize that my old one was expiring at the end of April until this one came in the mail. It's a tap to pay one. It came with a flyer extolling the virtues of it's security with convoluted language that I did not under stand "Each contactless card payment includes a one-time-use, dynamic data for the transaction" What does that even mean? Whatever it is it doesn't make me feel warm and fuzzy about a card that you can wave in front of some device and it charges something to my account. :mad:
 
Misspelling is ok @Trade, I knew what you meant.
But I do not always understand all that legal and security gibberish myself sometimes.
I still use my card anyway. I have to.

Maybe someone else here can explain it for you.

This is what I found:
Contactless card payments use Near Field Communication (NFC) technology to transmit
encrypted, dynamic data rather than static magnetic stripe information. Each transaction
generates a unique, one-time-use code or cryptogram, which ensures that intercepted data
cannot be reused for fraudulent purposes. This tokenization and dynamic authentication
process makes contactless payments significantly more secure than traditional card swiping.

🤗
 
You actually don't wave it...you put it against the screen. I just started using that method a couple of months ago because one of my cards wasn't read for some reason when I inserted it. I tapped to pay with that card and it worked. Now I use it with another card as well. I wasn't a fan of tap to pay at first either, but I have to admit it's little quicker and easier.
 
I’m not sure that it makes much difference if you stick the card in a slot, slide it, tap it or wave it as long as the transaction goes through.

I have a credit card and tap ‘n’ pay on my phone both work fine now that I’m used to them.

It was a surprise to me that my new card has only my name printed on it and no other visible information.

I did see a warning about RFID scanners being used by scammers near tap ‘n’ pay terminals in crowded high traffic areas. The scanners are similar to the ones that scammers have physically placed on credit card terminals. A new twist on an old scam.

Anything new is uncomfortable until we get used to it.

“Adapt or perish, now as ever, is nature's inexorable imperative.” - H. G. Wells
 
Tap technology has been the go to method for credit/debit card use for at lease a decade in Canada. I've never had an issue using it. The only issue I can see is if you lose your card because there's no pin# to enter when you tap your card.
If you lose your card it's up to you to report it and let them know approx. when it was lost. Financial institutions are usually pretty good about eliminating bogus charges. They are usually easy to identify because they aren't items you nomally would have bought in the past and often used at places you have not frequented before.

Give it a try; it's EZPZ and very quick at the checkout (y)
 
MrPants said:
Tap technology has been the go to method for credit/debit card use for at lease a decade in Canada. I've never had an issue using it. The only issue I can see is if you lose your card because there's no pin# to enter when you tap your card.
If you lose your card it's up to you to report it and let them know approx. when it was lost. Financial institutions are usually pretty good about eliminating bogus charges. They are usually easy to identify because they aren't items you nomally would have bought in the past and often used at places you have not frequented before.

Give it a try; it's EZPZ and very quick at the checkout (y)
Click to expand...
My bank’s mobile app allows me to turn my debit and credit cards on and off with a click to help minimize the possibility of fraudulent use when they are lost or simply stashed in a drawer for extended periods of time. Turning them off does not prevent authorized monthly payments from being processed.

Take a look at your online banking app, I’m sure that they all have similar features.
 
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