Radio-Frequency Identification (RFID) Explained:
What is RFID? Radio-frequency identification, or “RFID,” is a wireless payment technology that uses electromagnetic fields to transfer stored information. RFID tags can be embedded in payment cards and then “read” by a scanner without swiping or contact of any sort, similar to NFC technology.
There has been some controversy over the use of RFID chips in devices or objects that store sensitive data. Critics argue that any appropriately built card scanner can capture the information on an RFID chip simply by being placed in close proximity to a credit card. Due perhaps in part to this security concern, RFID technology has been slowly implemented in the electronic payments industry.
Watch a local news report about RFID security concerns below: