Can an App Steal Your Credit Card Data?

Thieves are now using an app, in conjunction with near field communication (NFC), to swipe credit card information by waving their phones at close proximity to a victim's wallet or jacket, according to a recent CBC News report. The process takes only a second, and because of its swipe-and-grab nature, it doesn't leave any evidence.

The report didn't specify exactly which app was being used, but it did mention the phone in the study was a Samsung Galaxy S III

What's important to note is that the credit cards in danger here are only those that use NFC for payment, like MasterCard PayPass or Visa payWave, which allow customers to tap their card to make quick purchases. You can contact your credit card company to see if your card is NFC-capable. Read more...