Today, many stores and banking services opt for cashless and even contactless payment methods. This occurs when consumers use their smartphones or smartcards to swipe, hover, or digitally transfer hard payments to the merchant. While this greatly decreases transaction time—which is ideal for the merchant—it also poses serious security risk to the consumer. It exposes those who use this method to radio-frequency identification fraud (RFID). Anyone can purchase these RFID readers to discreetly steal your financial information. That’s why it’s important to know how RFID blocking wallets work. These protect your cards from thieves using a unique aluminum casing to prohibit the electromagnetic signals used to steal the information.
What Is RFID?
RFID automatically identifies and tracks objects using a radio transporter, radio receiver, and transmitter to transmit data to the reader. It is the main driver behind contactless payment. Contactless payment is when consumers use contactless smart cards or smartphones to make secure payments. However, this poses a huge security risk as readers can read card numbers when passing by whether the cards are visible or not. Criminals online can steal personal and financial information using RFID readers without the original consumer’s knowledge.
The way scammers access your credit card data is known as RFID skimming. Criminals can wirelessly scan payments cards whenever customers perform cashless payments. Criminals can hide the RFID readers in their pockets and, when approaching their targets, discreetly steal the information. This form of hacking is also known as card-not-present transactions.
With that, consumers certainly want to block RFID hacking and malicious intent. RFID-blocking wallets use an aluminum body to block RFID electromagnetic signals. The cards must be inside the wallet for the RFID blocking to work. Otherwise, it leaves the cards exposed to hackers. As payment options become faster and easier than before, this also poses more risks for scammers to see your sensitive data. Keep your money and information safe!
Check us out at Fantom Wallets for the best RFID aluminum wallets on the market. Our wallets are completely customizable to protect your credit and debit cards and look stylish too. Not to mention, they’re extremely thin and durable enough to withstand any type of wear.