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08/04/2011 -
One of the biggest trends in payment processing today is the use of contactless credit cards. And while more and more consumers are using the radio frequency identification antenna-enabled cards, questions have been raised over whether the method is safe against electronic skimming.Among the leaders in the sector is Visa Canada, whose leadership contends that despite the fact that there could be issues, enough security is in place to combat any problems. "There is a remote risk that data could be intercepted but we have multiple layers of security that really address that potential, limited risk," said Gord Jamieson, director of risk management and security at Visa Canada, in an interview with the Toronto Sun.
More and more banks, including TD and Royal Bank, have begun offering the contactless Visa payWave, which allows customers to simply flash their cards in front of payment capture machines.
Other banks have been making headlines by offering the technology. Canada's Scotiabank announced that it would offer Visa payWave and allow consumers to use the cards at locations including Cineplex Entertainment movie theaters, Rabba Fine Foods, M&M Meat Shops, Petro-Canada and other places.
