Your Visa contactless card is already secure. The information on your card is protected with secure chip and PIN technology. The data that’s transmitted during transactions is encrypted and protected with a digital signature that’s much harder to copy than a handwritten one. If your card is lost or stolen, you’re protected against unauthorised payments provided you tell your bank as soon as you realise it’s gone. Your card will be blocked immediately.
If your card does fall into the wrong hands, the maximum amount per transaction is £45, and after repeated payments, the person will be asked for a PIN. For payments over £45, authorisation is required, so nobody can make purchases without your PIN. Each time your contactless device interacts with a payments terminal, it generates a one-time-only electronic signature and cryptogram, making it just as secure as a normal chip transaction.