Bank scams security

[ecuttel]

Another advantage of using Apple pay or Google pay when travelling is they work on lot of public transport in Europe and parts of USA. eg use your phone for tap and go on the Tube in London it will only bill you up to the daily (or weekly) price cap, additional trips are not charged so better than purchasing Oyster card or a daily pass. Also a better option is to use a Wise card (Visa Based) which operate in local currency and offer very good exchange rates. So not paying expensive visa currency exchange rates and the added advantages of having a local bank account in up to 50 countries. Also works well for online purchases in foreign currency

[Bjauck]

I don't use anything else these days and feel it is safer than a physical card. Not to mention not having to carry a wallet wherever I go. Got so used to it when in Europe on an extensive visit last year, where everyone uses it, that I moved my credit card from Kiwibank when I got home as they oddly don't offer Apple Pay.

I wonder what proportion of their clients have apple products. A significant proportion I imagine are not being serviced well.

Until the end of 2022, Paywave fees were high in NZ. Maybe since the Retail Payment Ace came into effect, payWave will be more widely available in NZ.
https://www.rnz.co.nz/news/business/...nt-availablity

[warthog]

Good question, which I had not thought about before. So while chatting to my cousin tonight, I asked him....

My cousin and his wife were at Paddington Station in London, sorting out their travel. Unusually my cousin had his VISA card in his back pocket as a stand alone card, to save him diving into his travel bags to get it. The opportunity this presented for electronic theft, and the timing of subsequent 'stolen transactions' was the reason my cousin decided this was where the card skimming happened. A railway station is also the perfect cover for an opportunistic thief, as all sorts of legitimate people are 'loitering about' with good reason. If his card had been in his wallet with other cards, in that case the electronic signal as read by a scanner would have been corrupted. So my cousin decided Paddington Station was the best opportunity for such electronic theft, given it was the only time his VISA card was in his back pocket and not in his wallet as per normal.

SNOOPY

Thanks for the reply Snoopy.

The hog thinks this is one of those cases where somebody is damn sure it was that dodgy kebab that gave them the runs when in fact it was the door handle at their favourite café.

[iceman]

I wonder what proportion of their clients have apple products. A significant proportion I imagine are not being serviced well.

Until the end of 2022, Paywave fees were high in NZ. Maybe since the Retail Payment Ace came into effect, payWave will be more widely available in NZ.
https://www.rnz.co.nz/news/business/...nt-availablity

I had a call from a Kiwibank Customer Service guy from Dunedin asking me what the reason was for me closing the account. I told him I was happy with my credit card account in general but the only reason was their stated policy of not accepting Apple Pay in the foreseeable future. His response indicated that he wasn't surprised and I clearly was not the first person he had dealt with quitting for that reason. I think Kiwibank is making a huge mistake and is being left behind. The bank that was going to take on the "Big Aussie banks" with much bravado. The customers won't come back, especially given the increasing difficulties and interrogations involved with starting new accounts.

[warthog]

Can you explain a bit more how Paywave on an iPhone might work? Are you saying that the phone owner must activate it for each transaction by putting in a password or something?
SNOOPY

When a card is associated with a physical device cryptographic tokens govern this relationship or capability. Due to secure elements on devices, they are considered at least as secure as cards, if not more (certainly more than just tapping a card to pay). So whatever security method is employed to secure the device is also used to authorise transactions.

In practice, you present the phone to the card-reader and authorise the transaction with your face, fingerprint or PIN. There are attacks for each of these, but remember, security in practice is not about eliminating risk but raising the level of security to a high enough level that in combination with other factors such as support costs, represents an acceptable overall balance.

[warthog]

I had a call from a Kiwibank Customer Service guy from Dunedin asking me what the reason was for me closing the account. I told him I was happy with my credit card account in general but the only reason was their stated policy of not accepting Apple Pay in the foreseeable future. His response indicated that he wasn't surprised and I clearly was not the first person he had dealt with quitting for that reason. I think Kiwibank is making a huge mistake and is being left behind. The bank that was going to take on the "Big Aussie banks" with much bravado. The customers won't come back, especially given the increasing difficulties and interrogations involved with starting new accounts.

Kiwibank's attitude is consistent with that of the owner of that business: they know best.

[Snoopy]

Thanks for the reply Snoopy.

The hog thinks this is one of those cases where somebody is damn sure it was that dodgy kebab that gave them the runs when in fact it was the door handle at their favourite café.

Possibly. But there are devices around using bluetoothh for hacking RFID (Radio Frequency ID) Technology, which includes PayWave. Take a look at this video by David Bombal

https://www.youtube.com/watch?v=VF3xlAm_tdo

That is the reason my VISA card, with Paywave, stays in the bottom drawer at home and never leaves the house.

SNOOPY

[Snoopy]

I don't use anything else these days and feel it is safer than a physical card. Not to mention not having to carry a wallet wherever I go.

Yes but an iPhone is a lot more bulky that a card wallet, or even a full money card wallet.

SNOOPY

[Snoopy]

Yes on my phone with apple pay - a double press of a button and then either my face or 6-digit pin does the trick for the card to be debited, when the phone is near the reader terminal.You do not need the physical card.

So instead of entering a 4 digit number into the eftpos machine, you get to enter a 6 digit number into your phone. Doesn't sound like much of an advantage to me!

SNOOPY

[iceman]

Yes but an iPhone is a lot more bulky that a card wallet, or even a full money card wallet.

SNOOPY

It may well be but if you leave home without your mobile phone, I suggest you belong to a small minority of people. If you don't carry a mobile phone on you when you're out, you are clearly not in the target market for the Apple Pay technology !!
Why would I want to carry my wallet with me when I've got everything I need in the phone ?

And you're also wrong about the 6 figure code. As Bjauck said, EITHER a face recognition that most people have, or a 6 digit code.