will tap cards reduce fraud

[cmawash]

looks like slide credit card will be replace in the near future with tap credit cards, will they reduce credit card claims by customers

 

[Dan kamsickas]

looks like slide credit card will be replace in the near future with tap credit cards, will they reduce credit card claims by customers

I've been told that for a decade. PCI Security Council sent a notice in 2013 that as of January 2014 no cards would be issued with a mag stripe, then it was 2015, etc. When you see Walmart stop taking mag swipes, then it will happen.

 

[Wash4Life]

Maybe for a time, but we'll be back to where we are now. When you have people whose job is to spend every waking moment trying to commit fraud, there'll be a "breakthrough" on the bad guys end.

I remember chip cards were supposed to be the savior.

 

[eckert16]

it's been possible to passively capture and clone an RFID credit card (what you refer to as a 'tap card') for quite a few years already. Shops have been selling RFID wallets and RFID sheilding card sleeves to help people protect their credit cards from being passively cloned for years.