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Security concerns focus on several key areas.
In the event of a theft, there is no means in which to cancel the card.
While there is no official limit set on the amount of times the card can be used consecutively, it is believed to be around 5 times. While the card providers argue a £10 limit offers security in itself, five times that figure used within a short space of time does mean the account holder is likely to feel a pinch.
Other than the £10 limit, an additional security measure will necessitate the use of a pin after the limit of consecutive transactions has been reached.
The ‘tap and go’ card may lead to overspending in many cases (a receipt is only provided on request). The inconvenience of small purchases ie, searching for change, or breaking a note, can amount to significant savings on the part of the consumer. However, with the convenience of a ‘tap and go’ card for any amount up to £10, the monthly bill of small items could be significant. All of which could pose real budgeting problems for the low-income groups.
