Contactless Payments: Smartphones Safer Than Bank Cards
Experts on Latvijas Radio state that contactless payments via smartphone are absolutely safe, but bank cards without additional verification may be vulnerable.
During the Latvijas Radio program "Digital Breakfast", financial and cybersecurity experts discussed the security of contactless payments. Advisor to the Financial Industry Association Eleonora Bushmane-Zvaigzne and cybersecurity experts Kirill Solovyov and Elvis Strazdins explained that payments made through smartphone apps like Apple Pay or Google Pay are completely safe. However, contactless payments with a bank card are no longer considered fully secure because they do not require additional confirmation (such as a PIN), which could be exploited by criminals if the card is stolen or skimmed. The experts emphasize that while such payments are convenient, consumers should be cautious and consider using smartphone payments as a safer alternative. The key difference lies in authentication: smartphone payments require biometric or passcode verification, while card payments for small amounts often proceed without extra checks, making them more vulnerable.
