Many credit cards these days feature radio frequency identification (RFID) chips that store information about each individual customer.
In a recent release, Investopedia said that while the advanced systems could be safer to use at a credit card terminal, there were still many risks present. The source states that some criminals carry tiny readers inside their pockets to steal information. Both merchant service providers and consumers can help protect against this by paying close attention to statements and changes on different cards.
There are ways that shoppers can protect themselves, however, by purchasing the right technology.
“As financial transaction technology progresses, so too will the methods used in stealing financial information,” the source reports. “An RFID-blocking wallet can offer some protection over the new smart cards, but common sense and vigilance is still the best form of protection.”
Another precaution that can be helpful is achieving PCI compliance. By achieving compliance, both companies and merchant services providers can help ensure that no data is compromised.Back To Blog