The Vulnerabilities of NFC Payments Need to be Addressed

Written by reputio | Published 2021/07/28
Tech Story Tags: mobile-payment | hacking | cybersecurity | security | internet-security | payments | digital-payments | payment-processing

TLDR In-store mobile payments grew 29% in 2020, with Gen Zers expected to be 4 million of the 6.5 million new mobile wallet users during 2021-2025. NFC is based on Radio Frequency Identification (RFID) technology, that identifies objects or people. U.S. is now the world’s second-largest market of mobile wallets with $465.1 billion worth of mobile payment transactions, with expectations of increasing to $698 billion in 2023. Even as NFC technology appears to be so easy and convenient, it is not without its vulnerabilities.via the TL;DR App
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Written by reputio | Covering disruptive stories
Published by HackerNoon on 2021/07/28
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