Partner Article

Customers say banks should ask before issuing contactless

Consumers concerned with the security risks of contactless cards are calling on banks to ask their permission before issuing them with one, according to research from Defendernote.

In a survey of 2,000 adults, almost a third (30 per cent) said bank customers should have the right to decide when they want to change to contactless technology.

The research follows recently released Visa Europe data showing that contactless card use has risen by 300 per cent in the last year – with the rate of contactless fraud rising even faster, according to annual figures from Financial Fraud Action.

According to Defendernote’s study, those with contactless cards were twice as likely (18 per cent) as those with non-contactless cards (nine per cent) to have been a victim of card fraud in the last year.

While the vast majority of fraud victims say they’re happy with their bank’s response when they report the crime, around one in ten claim their bank made them feel like they were at fault.

A further 11 per cent of victims stung by criminals in the last year say their bank’s response to the crime was inadequate.

Morgan Rothwell, Director of Defendernote, said: “Contactless technology has revolutionised payments and made low-cost purchases far more convenient. While innovation is undoubtedly a positive thing, it’s important that card providers and banks continue to make customers feel safe about embracing new technology.”

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