You won’t be surprised to know that this is the most common question we are asked about PayWave  and the answer is a resounding yes.
Cards of this type have several, highly sophisticated security measures to make sure transactions are secure, including encryption technology which protects your card data from being compromised.
Cards must be within 4cm of the reader so that you can’t accidentally pay for someone else’s purchases.
There’s also a unique code for each transaction so you can’t pay twice. Even if you tap twice by mistake, you won’t pay twice.
Importantly, PayWave means the card never leaves your hand so you are always in control of your card.
At Beyond Bank Australia, we go one step further and operate a dedicated credit card transaction monitoring service 24 hours a day, seven days a week and we will contact you if we notice any unusual transactions.
When using PayWave your card is at no more risk of fraud than any other traditional card payment methods (pins and signatures). (Signatures can be copied and pins can be skimmed at ATMs if you enter your PIN without covering it).
What if credit card fraud does occur?
Visa PayWave cards  are just as secure as any other Visa chip enabled card with several layers of built in security.
This sort of technology means that you will not be liable for any fraudulent transactions that occur providing you didn’t contribute to the loss and notify us as quickly as possible.
You do need to be aware that Visa’s Zero Liability Policy does not cover ATMs and some EFTPOS transactions but even then it’s likely your bank, like Beyond Bank Australia, has its own fraud policy that will cover you if you haven’t contributed to the loss.
It’s also worth remembering that as transactions are capped at $100, there’s a higher risk of a thief being caught if the card is used multiple times.
For more PayWave questions & answers, view the credit card FAQ page .
What about other contactless methods like Android Pay and Apple Pay?
This is where security really counts. Android Pay  generates a temporary card number that is used for your transactions. If this number is compromised, it’s likely that it’s already expired and won’t be used to drain your account.
This is one of the biggest advantages of having this type of payment method.
Android Device Manager also lets you lock your phone or wipe it of personal information if your mobile is ever lost or stolen.
And finally, it is also important that if you have an Android device, to make sure you have updated virus protection downloaded onto your phone (because really it’s a computer with a built in phone). It’s one of those things we tend to overlook but it is always worth doing for that added peace of mind.