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Contactless payments have unique security risks

August 8, 2005

ePaynews: With Datamonitor predicting the market for contactless payment tokens to grow by 47 percent through 2009, contactless smart cards appear to be moving into the mainstream market. Security remains a contentious issue, but the card associations appear to be prepared to assume some of the risk by waiving mandatory PIN entry or signatures for relatively low-value contactless transactions.

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