In terms of safety, mobile pay (apple pay, Google pay, etc) is easily the safest. Tap to pay cards and chip readers are both very safe as well. The LEAST safe method is actually swiping your card, there's a reason why visa/Mastercard are pushing businesses to move away from swiping, and it's because its not secure
When you use Apple Pay and tap it doesn’t even use your real card numbers during the transaction and it’s all encrypted. So, if someone were to steal it. It would be meaningless.
@@drewgrffn3880 swipe uses same signal each time. Chip uses randomized signal dependant on counter. Apple/samsung/google pay is encrypted by phone, encryped signal, digital cc (not your real one), it is time dependant on signal (only broadcast signal when you are paying), etc... im sure im forgetting something.
What you are saying is partially false they have the exact same protections only that a credit card isn’t gonna immediately take a fraudulent charge out of your bank account like a debit will
Some cards come with a lock feature now which allows you to de activate when not in use. That way, unauthorized transactions are prevented to a large extent.
If you pay by cc or debit card in a restaurant, who is to say the waiter won't walk back there and write down all the info? Pointless to worry about this kind of stuff.
@@priestesslucy If every person who understands the danger of a cashless society would pay as much as possible in cash, things would be better because businesses would prepare more for cash payers.
It is extremely difficult for me to even open Amazon/ebay apps at all. The problem is not to have a CC, the problem is that you don't control your emotions.
It depends. Yes, it is safe as long as it's added to your Apple Wallet or Google Pay. That way, unless you authorize through Face ID / Fingerprint / Phone passcode, there's no way a payment is initiated even if the phone gets lost. However, if you have a tap card and lose it - there's a chance someone can use it for unauthorized use for small purchases. It is also possible, for someone to use a fake POS and put it near your wallet (Unless it's an RFID wallet that blocks the signal). Work at the bank.
@@jnimitzch4738 I use Secrid wallet and it comes with RFID blocker with its metal case. There are plenty of wallets with RFID blocker and I always suggest people to buy those when shopping for a wallet.
"Yes, it is safe as long as it's added to your Apple Wallet or Google Pay. " And yet we have millions of contactless transactions per day happening in the UK without issue without needing to do this.
I prefer a credit card. I get points that gives cash back to the card. Credit cards have insurance that debit cards do not. I am in Canada. I was told the debit cards are not insured to the same level as the credit cards. I never go over, and always make sure the cards are paid. This avoids interest and service calls. I like the tap and pay. This way no reader is involved. The tap and pay is a lot more difficult to be exploited by Scammers. With my credit cards when it is used I instantly get an email warning the card was used.
Is chip and pin a new thing in the USA? We've been using contactless (tap to pay) for years.. chip and pin rarely gets used in Scotland anymore... its old school!
Yes, chip & pin is new to the USA. The bankers in the USA didn't want to bother to spend the money on it because they had a different more updated tech coming out and wanted more profits by not spending the money for chip & pin only to introduce the newer system a year or two later. That's their story and they're sticking to it.
I've only seen cellphones used here in U.S..at the grocery store. but that's about it. Charles Schwab sent me a new signature debit card with that touchless feature over a year ago. Actually used it for the first time in Europe a few months ago.
No... it's not "new" as in just arriving onshore. I've had chip and pin cards -- and contactless pay options -- for years now on the West Coast of the U.S. (yes, even out on the Pacific Coast!). Did chips come to the U.S. after Europe? Yes. And we have flush toilets and hot and cold running water out here, too!
My ccds do not even have a PIN. Is there actual PIN to do POS transactions? As far as Debit Cards being just as safe, I would advise to keeping your account balance segregated into another where you can transfer from (like multiple savings accounts) so any fraud will be limited. And to not do overdraft protection. The lag time for banks to make you whole has been significant in my experience
In the UK we’ve had contactless (tap to pay) for years. It’s fine and most places have a limit for contactless anyway, under £50 I think 🤔 after £50 you need to enter your pin.
@Dansyoutube I think he's talking about the consumer. Even I'm floating close to $4k in cash points from paying my auto/home insurance,gas,groceries,personal property tax,and travel. It's one of my emergency fund.sources.
wow that didnt answer the question. Tap to pay uses the same technology as the chip. Both of which are about 1000x safer than the black bar on your cards. Why? Tap and chip uses a temporary token to authorize transactions for about 30 seconds. If a hacker intercepts that token, they have 30 seconds to do damage (buy stuff). The black bar on your card is a static code that doesn't change ever. If a hacker intercepts that code the black bar gives out to the terminal, they have until you cancel the card to do damage. I hate when people just say its safer and don't explain why. That leads to mistrust. Also for things like your phone, the phone usually needs to be unlocked. Typically for things over $5. And for the people worried about it paying for things when you walk past a terminal, it needs to be like an inch or closer away from the terminal, with nothing in-between. It's not a concern.
i understand the basics of radio signals and how to jam them by generating the frequency to prevent the device from getting the real signal. but i was wondering is it possible to transmit the 13.56 mhz signal at a store to block the tap from working so the customer has to dip or swipe making the skimmers be able to read the card? i am asking because i suspect a couple gas stations in my town maybe in on a scamming scam where they are broadcasting a blank 13.56 mhz signal to interfere and drown out the tap and cause the terminal to refuse the transaction to force the dipping of the card because the terminal only works if using a phone app but not the card so i have to then dip and i have several times gotten fraud alerts and i suspect maybe the gas stations may be in on the skimming.
@@topcomment3816 I’m serious. I even pray for over my appliances to keep working. There is nothing about you that God considers minimal. Pray about everything you have a concern about. God bless you and stay safe.
Building credit is based on debt which is why Dave is against it. The majority of people have a hard time with credit card debt and the last thing you'd want to do is have many credit cards open. The point of Dave is to stop using credit cards as a crutch.
I am not sure about US, but here in India almost all bank's do provide option to set daily limit for "tap to pay" and a separate limit for "insert + pin" method. So i just set very small limit , say 50$ for "tap to pay" and use it to pay for fuel , MacD etc. For "insert+pin" i set some high amount.
1:10 My bank sent out a new CC card and I didn't activate it because the old card was still good. Well, before long the old card stopped working. When I took the time to look at things, I realized the new card wasn't quite the same. It had a new exp date and a new security code on the back. So I wouldn't advise just cutting up the new cards without a little investigation.
Chip Cards can be scanned from dozens of feet away. Why Cred Cards are better. If you have a card with ready cyber$ available, ie; debit, 'easier', and 'easier' to access(crooks) more quickly.
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In terms of safety, mobile pay (apple pay, Google pay, etc) is easily the safest. Tap to pay cards and chip readers are both very safe as well. The LEAST safe method is actually swiping your card, there's a reason why visa/Mastercard are pushing businesses to move away from swiping, and it's because its not secure
Can you explain how?
@@drewgrffn3880 skimmers
When you use Apple Pay and tap it doesn’t even use your real card numbers during the transaction and it’s all encrypted. So, if someone were to steal it. It would be meaningless.
@@drewgrffn3880 swipe uses same signal each time. Chip uses randomized signal dependant on counter. Apple/samsung/google pay is encrypted by phone, encryped signal, digital cc (not your real one), it is time dependant on signal (only broadcast signal when you are paying), etc... im sure im forgetting something.
Tapping is the least safe
This is false. Debit cards do not have the same protections and they are not as quick to refund YOUR money.
What you are saying is partially false they have the exact same protections only that a credit card isn’t gonna immediately take a fraudulent charge out of your bank account like a debit will
Some cards come with a lock feature now which allows you to de activate when not in use.
That way, unauthorized transactions are prevented to a large extent.
That would be awesome. That would probably eliminate most of the fraud.
If you pay by cc or debit card in a restaurant, who is to say the waiter won't walk back there and write down all the info? Pointless to worry about this kind of stuff.
That's why you pay in cash
@@b.cdrisk2035 until eventually cash is discontinued T.T
I feel like that whole 'coin shortage' thing was meant as a baby step in that direction.
@@priestesslucy If every person who understands the danger of a cashless society would pay as much as possible in cash, things would be better because businesses would prepare more for cash payers.
Yes! This does happen!
They wouldn't take the time to write it down they would just take a Pic of the front & back.
As a Security engineer I will say no tech is secure.
another reason I pay CA$H
@@Brucev7 Cash is also not secure, very susceptible to the ol' "Your money or your life" hack
@@al1395-y3d 🤣🤣 the reason I stopped carrying cash, now I just carry
@@carloscrespo4520 Statistically if you get robbed you're MORE likely to get shot if you're carrying, so that makes cash even LESS secure lol
@@JustinCase780
Yeah with zero liability there are no issues.
Not true with a debit card. If someone steals your money, they can try to get it back but they won’t always get it back.
If a bank says they're doing something for your protection, they mean they're doing something to save themselves money.
I mean yah? A bank is a business... is this new information to you lol?
That's why I own bank stocks.
@@blackworldtraveler3711 same
It is extremely difficult for me to even open Amazon/ebay apps at all. The problem is not to have a CC, the problem is that you don't control your emotions.
I can.
Been called a Vulcan more than once.
@@blackworldtraveler3711 that was good "Mr Spock"🤣🤣🤣. Greetings
Never ask boomers questions about tech
Nobody will ask you about money.
@@blackworldtraveler3711 Your point being?
The Tech that allows contactless payment was invented and patented by "boomers," genius.
Ok zoomer
It depends. Yes, it is safe as long as it's added to your Apple Wallet or Google Pay. That way, unless you authorize through Face ID / Fingerprint / Phone passcode, there's no way a payment is initiated even if the phone gets lost. However, if you have a tap card and lose it - there's a chance someone can use it for unauthorized use for small purchases. It is also possible, for someone to use a fake POS and put it near your wallet (Unless it's an RFID wallet that blocks the signal).
Work at the bank.
@@jnimitzch4738 I use Secrid wallet and it comes with RFID blocker with its metal case. There are plenty of wallets with RFID blocker and I always suggest people to buy those when shopping for a wallet.
@@jnimitzch4738 Faraday would be proud.
"Yes, it is safe as long as it's added to your Apple Wallet or Google Pay. " And yet we have millions of contactless transactions per day happening in the UK without issue without needing to do this.
Remember this video the next time someone tells you, *“There is no such thing as a dumb question.”*
It's not a dumb question.
But it is a question she could have answered for herself with some independent research.
It's not dumb. There used to be an older feature that worked the same called blink. They have to discontinue it since it wasn't safe
I prefer a credit card. I get points that gives cash back to the card. Credit cards have insurance that debit cards do not. I am in Canada. I was told the debit cards are not insured to the same level as the credit cards. I never go over, and always make sure the cards are paid. This avoids interest and service calls. I like the tap and pay. This way no reader is involved. The tap and pay is a lot more difficult to be exploited by Scammers. With my credit cards when it is used I instantly get an email warning the card was used.
A debit card does not have the same fraud protections and, no, it is not safe to carry a debit card. It’s not a myth it’s called the card act
Cash is king.
Are tap to pay new to the US? UK has had them for years.
Tap to pay is not new in the US. It has been around for a few years now.
No
@@jnimitzch4738 you get a receipt either way
They must have completely run out of content. I can’t believe I saw this video in full. I demand a refund.
Safe as a normal card
Is chip and pin a new thing in the USA?
We've been using contactless (tap to pay) for years.. chip and pin rarely gets used in Scotland anymore... its old school!
My understanding is that the USA has been slow to adapt tap to pay in comparison to other countries. We were even slow with chips.
Yes, chip & pin is new to the USA. The bankers in the USA didn't want to bother to spend the money on it because they had a different more updated tech coming out and wanted more profits by not spending the money for chip & pin only to introduce the newer system a year or two later.
That's their story and they're sticking to it.
I've only seen cellphones used here in U.S..at the grocery store. but that's about it.
Charles Schwab sent me a new signature debit card with that touchless feature over a year ago. Actually used it for the first time in Europe a few months ago.
Banks know Americans are slow to change. So they introduce things slowly so they can acclimate.
No... it's not "new" as in just arriving onshore. I've had chip and pin cards -- and contactless pay options -- for years now on the West Coast of the U.S. (yes, even out on the Pacific Coast!). Did chips come to the U.S. after Europe? Yes. And we have flush toilets and hot and cold running water out here, too!
My ccds do not even have a PIN. Is there actual PIN to do POS transactions?
As far as Debit Cards being just as safe, I would advise to keeping your account balance segregated into another where you can transfer from (like multiple savings accounts) so any fraud will be limited. And to not do overdraft protection.
The lag time for banks to make you whole has been significant in my experience
Yup emphasis on Ken....AGREED!
@Rachel Sheldon Christy is the absolute worst; she adds nothing except her stupid smile. She is easily the worst of the Ramsey personalities.
Tap to pay is good for those who are germaphobes who don't want to touch the device - like me 👀
In the UK we’ve had contactless (tap to pay) for years. It’s fine and most places have a limit for contactless anyway, under £50 I think 🤔 after £50 you need to enter your pin.
Same here in Canada
Does Anthony co-host/guest host anymore or is he doing his own show only now?
Gone
@@lmnop01 too much melanin
Dave is missing out on airline miles. At least use it for utilities, fuel, insurance, etc, things you aren't going to impulsively spend on.
@Dansyoutube
I think he's talking about the consumer.
Even I'm floating close to $4k in cash points from paying my auto/home insurance,gas,groceries,personal property tax,and travel.
It's one of my emergency fund.sources.
He probably owns an airplane so he doesn't need the air Miles
Dave is worth about two hundred million dollars. I’m not sure the miles would mean that much to him.
@@Frank-James Ok, well then he can send his rewards to me.
wow that didnt answer the question. Tap to pay uses the same technology as the chip. Both of which are about 1000x safer than the black bar on your cards. Why? Tap and chip uses a temporary token to authorize transactions for about 30 seconds. If a hacker intercepts that token, they have 30 seconds to do damage (buy stuff). The black bar on your card is a static code that doesn't change ever. If a hacker intercepts that code the black bar gives out to the terminal, they have until you cancel the card to do damage. I hate when people just say its safer and don't explain why. That leads to mistrust.
Also for things like your phone, the phone usually needs to be unlocked. Typically for things over $5. And for the people worried about it paying for things when you walk past a terminal, it needs to be like an inch or closer away from the terminal, with nothing in-between. It's not a concern.
Tap to pay is a new contactless way to pay with your card ..you just wave it instead of swiping or placing the chip in the reader .
yes. Much more safer than swiping your card lol.
Use RFID protection if possible
& Shield Wallets
@@jnimitzch4738 Works for me
Dave missed the “tap to pay” part he’s talking about a chip. Get with the times Dave haha
Whats tap to pay?
@@jnimitzch4738 lol iv been doing that. I just didn't know what is called thanks
He's very much behind the times. He still thinks we still use Ipods and DVD players these days.
@@cgasucks what's a DVD player
@@saulgoodman2018 Yes...like in The 10 Commandments Tablets.
i understand the basics of radio signals and how to jam them by generating the frequency to prevent the device from getting the real signal.
but i was wondering is it possible to transmit the 13.56 mhz signal at a store to block the tap from working so the customer has to dip or swipe making the skimmers be able to read the card?
i am asking because i suspect a couple gas stations in my town maybe in on a scamming scam where they are broadcasting a blank 13.56 mhz signal to interfere and drown out the tap and cause the terminal to refuse the transaction to force the dipping of the card because the terminal only works if using a phone app but not the card so i have to then dip and i have several times gotten fraud alerts and i suspect maybe the gas stations may be in on the skimming.
No credits cards are safe!!
I don't see a problem with tap to pay, that's all I can say!
Dave, I aspire to make content as good as you! I love this channel and keep up the good work!
Tap and mobile pay is my favorite and it gives a fake number
Is there really no such thing as dumb questions? “Is it safe to carry a cc in my purse?”
Dave you aren’t right.
I would encourage everyone to pay cash as much as possible, at least if you are interested and staying as free as possible.
Does anyone else pray for God to keep their identity safe from fraud?
Hahahhahah
@@topcomment3816 I’m serious. I even pray for over my appliances to keep working. There is nothing about you that God considers minimal. Pray about everything you have a concern about. God bless you and stay safe.
No.
& Shield Wallets
@@Brucev7 I have a shield wallet also.
Just pay cash.
debit cards are like cash to me
and why I pay with CA$H. I don't have to be concerned about ID theft, or, Systems Down
Yes basically it's just cash linked to your account but the card has a number and your identity on it.
You should have credit cards. Many of them. Building credit is a great thing. I'm not sure why Dave is against building credit.
Building credit is based on debt which is why Dave is against it. The majority of people have a hard time with credit card debt and the last thing you'd want to do is have many credit cards open. The point of Dave is to stop using credit cards as a crutch.
So much information
Debit cards do have tap to pay now
Don't come to Canada 😂😂 tap to pay is so popular here that it's the only method to pay in some places.
I am not sure about US, but here in India almost all bank's do provide option to set daily limit for "tap to pay" and a separate limit for "insert + pin" method. So i just set very small limit , say 50$ for "tap to pay" and use it to pay for fuel , MacD etc. For "insert+pin" i set some high amount.
1:10
My bank sent out a new CC card and I didn't activate it because the old card was still good.
Well, before long the old card stopped working. When I took the time to look at things, I realized the new card wasn't quite the same. It had a new exp date and a new security code on the back.
So I wouldn't advise just cutting up the new cards without a little investigation.
Chip Cards can be scanned from dozens of feet away. Why Cred Cards are better. If you have a card with ready cyber$ available, ie; debit, 'easier', and 'easier' to access(crooks) more quickly.
A very long non-answer word diarrhea to a simple question “is tap to pay safe”? Never trust a guru that can’t say “I don’t know”.
?
I agree, she is not very smart
😁✌🖖👌👍😎