"The biggest misunderstanding when it comes to contactless is that there’s something to be fearful of," says Koch. "In reality, contactless payments offer the same protection as chip and PIN," he says. "So before purchasing a protective wallet, cutting up your card – or even wrapping it in tinfoil – consider the fact that contactless fraud losses accounted for just 0.5% of all card fraud during January to June 2015."
"Despite media reports of contactless scams such as card-skimming on crowded public transport, there hasn’t actually been a confirmed case", he notes. "It is possible to do in test conditions, but in the real world anything metal would interfere with the contactless signal." That means zips, keys or other contactless cards in your bag could stop it from being read.
"Even if someone did manage to read your card, the only information that they could access would be your name and sixteen-digit card number," he stresses. "They can’t access the all-important three-digit CCV code on the back of your card which they should need to make an online transaction. And if the retailer does not ask for the CCV code, and a fraudulent transaction is made, they would be liable," he explains.