5 Questions
Explain the advantages of using a contactless payment card over a magnetic stripe card reader.
Faster transaction, uses encryption to protect data, error-free as no typing involved, and retailers do not have access to credit or debit card information.
What are the advantages of using a chip and PIN reader for making payments?
More secure system as the entered PIN has to be matched with the PIN stored in the chip, and it is more robust than magnetic stripe cards.
What is the main disadvantage associated with RFID (Radio Frequency Identification) readers?
Fraud risk, as individuals should ensure that no one else reads their PIN while entering.
Describe the disadvantages of using a contactless payment card.
Transaction limited to a small maximum amount, transactions carried out without customer’s knowledge, more expensive than normal credit/debit card, and can take money twice if used as a Chip and PIN card also.
Explain how RFID readers capture information stored in a tag.
RFID readers use radio waves to read and capture information stored in a tag.
Learn about magnetic stripe readers and how they are used to read information from credit/debit cards. Understand the advantages of using magnetic stripe readers for faster and error-free data entry.
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