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News & Insights

For all the latest news and events

Contactless payment myths exposed

Since 2006, contactless payments have been available in Australia.

Today, there are approximately 60 million contactless cards in circulation in this country. Nevertheless, there remains some scepticism on how secure this method of payment is. Read more on the myths and truths of contactless payments.
 

Myth: Fraudsters can steal my details from contactless cards

Truth: A criminal would have to be very close to you to read your card and they’d only get the card number and expiry date. They wouldn’t have access to other important security, account details or other personal information.

Myth: If I lose my card, a fraudster could clear out my account using contactless

Truth: We have a sophisticated fraud system in place where we check contactless transactions. Remember, always report your card lost or stolen as soon as possible.

Myth: If someone bumps into me, they could take money from my contactless card

Truth: In order to do this, a fraudster would have to be only a few centimetres from your card. They’d also need to be a retailer and have a retail account to receive the payment, so this is very unlikely to happen. Further, if you have more than one contactless card in your wallet, this would cause a card clash and prevent any fraudster from accessing your cards.

Myth: I could accidentally pay for someone else’s shopping while walking past the till

Truth: This is very unlikely to happen as contactless technology only engages when a card is a few centimetres from a merchant terminal.

Myth: Contactless cards aren’t safe

Truth: This is a misconception – they’re incredibly safe and meet Australia’s high banking regulations. All contactless cards have further security features, which are incorporated into the chip. Remember, if your card is lost or stolen, you can report this through the Summerland mobile app instantly.

Myth: Having multiple contactless cards could mean paying for shopping twice

Truth: When you pay for your shopping, if a terminal detects more than one card, no transaction will be processed. This is because card terminals can only complete a transaction with one card at a time.

Myth: A special shielded wallet is required to keep contactless cards safe

Truth: No special wallet is required to keep a contactless card and if you have more than one contactless card in your wallet, a card clash will occur, preventing the cards from being remotely read from any potential criminal.

Myth: Contactless cards have different protection guarantees

Truth: At Summerland, we offer the same fraud guarantee on contactless transactions as other types of card transactions. We’ll refund any fraudulent transactions provided you haven’t acted fraudulently or with gross negligence (in line with our terms and conditions).

As part of Summerland’s commitment to fraud prevention and detection, our team may call, email or SMS you to confirm a transaction. However, remember that Summerland will NEVER:

• Ask you to disclose your personal banking details, your PIN, your card number or any other information on your card in an unsolicited email, SMS or telephone call; or

• Ask you to click on a link in an email which then asks you to log in to your account and verify your details.

If you suspect you are a victim of a fraud, contact us immediately on 1300 802 222 so we can help to protect you.

Cards issued by Summerland Credit Union ABN 23 087 650 806 Australian Credit Licence 239 238. Conditions, fees and charges apply. Information correct as of 06/04/2020

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