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Keyword: noswipecreditcards

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  • Schumer warns on no-swipe credit cards

    12/04/2006 11:33:52 AM PST · by neverdem · 50 replies · 1,536+ views
    news.yahoo.com ^ | Dec 3, 2006 | KAREN MATTHEWS
    Associated Press No-swipe credit cards that use radio waves to relay their data put consumers at increased risk of identity theft, Sen. Charles Schumer (news, bio, voting record) said Sunday. "These cards may be convenient, but they're a double-edged sword," said Schumer, D-N.Y. Tens of millions of no-swipe credit cards have been issued in the past year. When a customer uses the credit card to make a purchase, the card is processed by a radio frequency identification reader operated by the retailer. Schumer said thieves can equip themselves with the radio frequency readers to steal information from the credit cards,...