Everyone loves the convenience that accompanies the swiping, tapping, and inserting of your cards without the need to carry wads of cash. However, have you ever wondered what’s happening behind the scenes to keep your precious money safe? Well, there’s a lot happening, so let’s find out about them below.
What are credit card scanners?
You know those little machines at the checkout where you tap, swipe, or insert your card to pay for groceries, coffee, or that totally unnecessary impulse buy? Those are credit card scanners. However, they don’t just take your money; they work behind the scenes to keep your info safe from hackers and fraudsters. Let’s find out below.
Encryption
When you pay with your card, your info isn’t just sent out in plain text by the credit card scanner. Instead, it’s encrypted; basically scrambled into a secret code that only the payment processor can decode. Even if someone tries to intercept it, all they’ll get is a bunch of useless gibberish.
Contactless payment
Have you ever noticed how tapping your card or phone to pay feels almost too easy? Turns out, it’s not just convenient; it’s actually more secure than swiping. It works using Near Field Communication (NFC), which generates a one-time-use code for each transaction. Unlike the old swipe method, there’s no stored data for hackers to steal. Plus, since you never have to hand over your card, there’s less chance of someone sneaking in a skimming device to steal your info.
Tokenization
Instead of storing your actual credit card number, modern payment systems use tokenization to replace it with a completely random set of numbers. Even if a cybercriminal manages to steal this token, it’s useless because it doesn’t trace back to your real card. It’s like handing out a decoy instead of the real thing; safe, secure, and worry-free.
EVM chips
Remember when credit cards only had a magnetic strip? Those were the days when cloning a card was too easy. Now, almost every card has an EMV chip. When you insert your card into a credit scanner, the chip creates a unique transaction code that can’t be used again. That means even if someone steals your data, they can’t use it for another purchase.
Two-factor authentication (2FA)
Some transactions require additional verification, like PIN or a one-time passcode sent to your phone. This extra step makes sure that even if someone somehow manages to get your card details, they still need an extra piece of information to complete the transaction. Think of it like a lock on your front door.
Are you safe?
Thanks to these layers of security, using a credit card scanner is pretty safe. Of course, the system is 100% foolproof, but modern payment technology does a great job of keeping your data protected. To stay safe, you can:
- Use contactless payment whenever possible.
- Really check your bank statements for suspicious transactions. Enable reaction alerts on your phone.
- Avoid using your card on sketch websites.
Endnote
Next time you tap or insert your card into a credit scanner, take a second to appreciate all the technology working behind the scenes to keep your money safe.
