My bank issued me a new contactless credit card?

Question

without requesting it my bank replaced my account with a new account and a contactless credit card
you may know that these new cards only have to be held near a scanner
i dont like it

what is your opinion?

http://www.usa.visa.com/personal/cards/contactless/index.html?ep=v_sym_contactlesspayments

Answer 1

I do not think I would like it either. We had problems with our Mobil speedpass they came out with years ago and cancelled it.
Seems to me just one more way people are going to abuse and scam.

I would call the bank and tell them this is not an acceptable alternative.

Answer 2

While using the contactless credit card one needs to hold it near the card reader, unlike the current, more prevalent magnetic based cards that require a physical contact between the strip and the reading mechanism.

The contactless card stores its data on a microchip embedded in the card's plastic. The mechanism leverages RFID technology. When the card comes within four inches of the reader, the antenna on the RFID chip is jolted to life by the electromagnetic field created by the reader, and transaction data is sent from the card's chip to the RFID reader at the checkout stand.

These cards score over current credit cards in many respects. In terms of speed, a Visa study showed that regular cash transaction and magnetic strip card transaction on an average takes 34 and 24 seconds respectively, whereas contactless credit card transactions take a mere 15 seconds.

Also since the cards utilize RFID and feature 128-bit and triple DES encryption, transactions are far more secure than previously. In case of loss the cards have built-in sensors that can disable the chip should anyone attempt to retrieve any personal data from a stolen card.

Answer 3

If you don't like it, you can ask your bank to cancel it and ask them to give a new one without the contactless feature.

Banks usually told in the contracts that they have the rights to cancel and/or replace accounts without telling their customers.

Answer 4

Well, I don''t like it much either because I wouldn't use it for what it's meant for, but it's the waive of the future. The primary use is to pay for fast food, coffee, etc., in fast moving places like McDonald's or Starbucks or gas stations that serve coffee and food. Some time in the future we'll be able to shop for groceries without checking out. We already have one grocery store where you get a scanner by presenting your customer card. As you shop, you scan and bag your groceries and pay the tab as you exit the store.

Answer 5

I'd be shitty, and they'd be hearing from me.

Answer 6

can i barrow it?

it make it easy for me to use without me being you.

Dont loose it.