[ELI5] Why we can just skip the PIN when using our cards?

Question

You know when it gets to the PIN screen, sometimes it’ll say, “Press cancel/enter to continue” and you can just… bypass the PIN. Doesn’t that just defeat the purpose of the PIN?

In: 247

Answer 1

Tap payments are quite secure – if the card is physically present it’s almost always held by the right person.

There are usually spending limits on those too – like you can tap for up to $100 or $200 maybe (depends on your card, bank, and maybe local laws) but bigger items require the PIN.

If your card is stolen and you report it, you won’t be liable for purchases the thief made on it.