As long as you know about this one, you'll be safe!
In this video, we discuss a new scam involving the "tap to pay" feature on credit cards and ATMs, and how to avoid falling victim to it. The scam involves scammers blocking the card slot of an ATM and then encouraging users to use the tap to pay feature. They exploit users who forget to complete their transactions, leaving the session open for the scammer to withdraw more money. To avoid this, always make sure your transaction is complete and the ATM returns to its original menu.
Despite the scam, tap to pay is more secure than other methods because it gives no opportunity for scammers to skim your credit card's magnetic strip. It also generates a one-time code for each transaction, just like the chip feature.
▼ Time Stamps: ▼
0:00 - Intro
0:29 - How the Scam Works
2:01 - Should You Use Tap To Pay?
4:21 - Bonus Tip
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