This represents an increase from 2015, when the total amount stolen using contactless credit or debit cards was GBP 2.8 million. A contactless card has a spending limit of GBP 30, but fraudsters can use the stolen card at different terminals several times before they are required to provide a PIN.
What`s more, NFC payments have increased from GBP 7.75 billion in 2015 to GBP 25.2 billion in 2016. Compared to the number of transactions, contactless payment fraud remains low, representing 1.1% of the total card fraud.
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