Tag: Contactless

Venmo launches physical credit card backed by Visa with a scannable QR code for contactless payments

  • Available in five designs, the no-fee card comes with a QR code on the front
  • The rewards program gives cash back on your most popular spending categories
  • An RFID-enabled chip allows users to tap to pay for a contactless transaction
  • Applications will be rolled out to Venmo users in the US in the coming months

Venmo, the popular digital payment app owned by PayPal, has launched its own physical credit card.

Issued by Synchrony Bank and powered by Visa, the no-fee card is available in five vibrant designs.

It comes with a unique QR code on the front and an RFID-enabled chip, so customers can tap to pay for a contact-free transaction. 

A personalized cash-back program automatically rewards users in their most popular spending categories. 

Applications for the Venmo credit card are now available for a limited number of users who have had an account for at least 30 days

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New PIN Verification Bypass Flaw Affects Visa Contactless Payments

Even as Visa issued a warning about a new JavaScript web skimmer known as Baka, cybersecurity researchers have uncovered a new flaw in the company’s EMV enabled cards that enable cybercriminals to obtain funds and defraud cardholders as well as merchants illicitly.

The research, published by a group of academics from the ETH Zurich, is a PIN bypass attack that allows the adversaries to leverage a victim’s stolen or lost credit card for making high-value purchases without knowledge of the card’s PIN, and even trick a point of sale (PoS) terminal into accepting an unauthentic offline card transaction.

All modern contactless cards that make use of the Visa protocol, including Visa Credit, Visa Debit, Visa Electron, and V Pay cards, are affected by the security flaw, but the researchers posited it could apply to EMV protocols implemented by Discover and UnionPay as well. The loophole, however, doesn’t impact Mastercard, American

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