![]() Scaremongering stories almost always follow new technology, and contactless is no exception. Why contactless pickpocketing is impossible Only a genuine POS with a genuine acquirer bank account can proceed with an EMV transaction. ![]() The card's microprocessor chip is powered wirelessly by proximity to the POS (up to 4 cm). The terminal uses the second key to validate the code returned by the card. This code is unique to that transaction and proves that the card is genuine. When prompted by the terminal, the card uses one key to generate a valid cryptographic code sent back to the terminal. Each EMV smart card contains a unique public and private key pair that is used during authentication. It is based on public-key cryptography, typically RSA cryptography. The EMV standard continuously evolves to include new security defence mechanisms, such as Dynamic Data Authentication (DDA). Since the chips are virtually impossible to tamper with or clone, EMV cards are infinitely less vulnerable to counterfeit fraud than magnetic stripe cards. ![]()
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