‘Major flaw’ discovered in Visa’s contactless cards: Thieves could bypass £20 limit to steal up to 999,999.99 - so long as it's in a foreign currency
The flaw was discovered in Visa’s contactless credit card system
Typically, a PIN needs to be entered to approve transactions over £20
Experts bypassed this limit when asking for money using foreign currency
They were able to approve transactions up to 999,999.99 in any currency
To carry out the attack, the team set up a rogue ‘point of sale’ and touched this terminal against the card
This terminal was able to attack the card even when it was stored in a bag
All a criminal would need to do is set up somewhere like an airport where the use of different currencies would appear legitimate, experts warned
Spokesman for Visa told MailOnline: 'We have reviewed Newcastle's findings as part of our continued focus on security and beating payments fraud.'
Added that research does not take into account the multiple safeguards put into place throughout the Visa system
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