Cybersecurity for Tap-to-Pay Features

Tap-to-Pay is by no means a new technological development, but thanks to the COVID-19 pandemic, it has become increasingly popular as a method of payment since it is ostensibly contactless. It is also a payment method that can be used even without a card, since many wearable devices such as smartwatches feature tap and go payment options. With rumours that Apple Pay will be launching in South Africa this year, it is likely to become increasingly available. However, this begs the question, what about security? When no physical card is required and often not even the authentication of a Personal Identification Number (PIN) for smaller transactions, who is responsible? The reality is that banks, merchants and users all need to play their part to minimise fraud and safeguard their money. Are c...