A recent report by a local daily on fraud attacks had raised concern over the safety of Visa payWave cards.
Bank Negara Malaysia has already given its assurance that the contactless cards can’t be cloned or used for unauthorised transactions.
In a statement today, Visa Country Manager for Malaysia Ng Kong Boon added that Visa payWave was “extremely safe” and protected by “many layers” of security features.
“While there are staged demonstrations showing how credit card details could be lifted through a contactless card, this scenario is complex to execute in reality,” he said, adding the card’s data offered very limited potential for fraud.
“To mitigate and secure Visa transactions, all transactions processed by Visa’s global processing network, VisaNet, are analysed in real-time for their fraud potential.”
Ng said this allowed Visa to detect attempted fraud right there at the check-out counter.
Recently, concerns had been raised as to whether the contactless cards or payWave-enabled cards were secure enough to be used.
Even the National Union of Bank Employees had raised the issue, saying there were devices that could read the information stored magnetically in the new cards.