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Cashless payments 'a secure option'
18 Feb 2010

Cashless payments are an increasingly secure option for consumers who wish to purchase goods without using paper money, it has been suggested.

Jemma Smith, Spokesperson for UK Payments, says that contactless payment devices are set up so that if any fraudulent activity takes place using a card then the authorities will know about it and be able to take preventative measures. 

"Fraud is going down - something we are announcing next month. It has gone down to the lowest level in two decades," she states. 

Her comments come in response to recent statistics from Financial Fraud Action UK, which found that card fraud losses were down by 23 per cent in the first half of 2009 in comparison to the same period in the previous year. 

The report added that the introduction of cashless payment measures such as chip and pin has made it more difficult for criminals to commit fraud on UK cards.