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Russian banks came up with a replacement for Apple Pay: is it dangerous and how will it work?

Date: May 31, 2023 Time: 22:34:57

Our business will not fail. You will discover how to avoid any sanctions.

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Our business will not fail. You will discover how to avoid any sanctions. The other day, several large banks announced at the same time that they were beginning to distribute special stickers to customers. They can be linked to a bank account, pasted on the phone and paid at the checkout. It turns out a kind of physical replacement for Apple Pay. Amounts up to 1000 rubles are carried out immediately. And if it is more, you need to enter a PIN code. But, as before, you can leave the house to go shopping with an iPhone.

In fact, the innovation seems a bit strange and pointless. First of all, those who were too lazy to carry a wallet with them have long thought about everything without banks. They put a contactless bank card under the casing of his iPhone. And they paid as always, bringing the phone closer to the terminal. A homegrown Apple Pay.

Second, most big box stores already accept QR code payment. The big banks have already upgraded their own terminals. You can open the bank’s mobile app, scan the QR code and pay the required amount. Yes, a little more than paying by card. But if you open the application in advance, standing in line at the checkout, then everything is also quite fast. Also, in this case, you do not need to enter a PIN code.

But, as they say, the more options, the better. Perhaps some of the customers find the stickers more convenient. Also, banks plan to distribute them for free. The main thing is not to lose the sticker. Although, nevertheless, this recommendation applies to any currency carrier.


What happens if my money is stolen?

The horror story of scammers operating on public transportation, who rely on every passenger in the hope of finding a wallet with bank cards inside, has been circulating for several years. Allegedly, the essence of the fraud is that the criminal takes a payment terminal with him, enters the amount of 999 rubles (does not require entering a PIN code) and tries to approach his card to write off this money. .

In theory, this is possible. At Komsomolskaya Pravda we even carried out a technical experiment a long time ago. But in practice, these cases have not been recorded in recent years. Yes, and experts doubt that this makes any sense to scammers. Maybe someone tried it at first, but then realized that there were too many difficulties for such small amounts.

1. Only entrepreneurs can receive a payment terminal. And for this they open a current account in a bank. And they provide their data there. If an unauthorized payment occurs, the “customer” may immediately claim his bank. So not a day will pass that the scammers account will be blocked.

2. Most customers have SMS notifications enabled. On the same subway or buses, everyone travels with their mobile phones in hand. Notification about the operation comes instantly. That is, a fraudster can be caught red-handed at the next station.

3. To withdraw money, the terminal must be kept at a distance of no more than 2-3 cm from the card. Also, if there are several cards in the wallet, the signals from them will interrupt each other. The terminal will get confused and display the inscription “Show only one card.”

4. And finally, in order to receive the card payment, you must enter the amount in the terminal and press the green button. If a minute has passed and no payment has been made, the terminal automatically cancels the operation. And everything needs to be re-entered. In the conditions of rush hour traffic or somewhere in the queue, it is not very convenient to carry out these manipulations.

In short, don’t worry about contactless payments. There is no point in wrapping the card in foil, it is better to keep it away from strangers. And a smartphone, by the way, too. If scammers steal both your card and your phone, consider that you gave them your bank account passwords and carte blanche to carry out any transaction. In this unpleasant case, you need to urgently inform the bank so that they block the card. And to limit losses, set limits. This can be done in the mobile application of almost any bank.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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