Near Field Communication (NFC) Technology is a standards-based wireless communication technology that allows data to be exchanged between devices that are a few centimeters apart. NFC operates at 13.56 MHz and transfers data at up to 424 Kbits/seconds. NFC is a means of sending data over radio waves. No data from card can be copied / modified / or corrupted while using card. Card uses ISO Network standard ISO 13157 (https://www.iso.org/standard/53430.html). This standard has been revised by ISO/IEC 13157-1:2014
NFC Tap Payment:
A contactless payment is a transaction that requires no physical contact between a device and a payments terminal. In an NFC payment, you tap or hover POS device to pay.
Data theft with long-range RFID readers:
No, it is not possible to use long-range RFID readers to extract data from contactless cards. The maximum range a contactless card communicates at is 4 centimeters.
The Near field communication (NFC) technology in contactless cards uses a 13.56Mhz radio frequency technology that only transmits digital data within a very short range (typically 4 cm or less). No communication can be performed beyond that short range.
Contactless skimming with close range readers:
No, it is not possible to clone a contactless card thanks to data collected by a hidden reader like a smartphone or any other NFC reader. It is also impossible to collect enough data from the card to complete an online purchase.
Large losses with stolen card:
Contactless card can be used for low value transactions without requiring a PIN code, it is possible that a thief could spend large amounts of money through many repeated small purchases. When a contactless card is reported lost or stolen, the issuing bank will cover for the small amounts, if any, that a fraudster managed to spend before the security threshold.
* Keep your card safe and away from POS devices.
* Understand using of contactless card while travelling abroad.
* To uderstand more speak with your bank officers.