RFID Wallet: What is it and Why You Need it
Times have changed. Everything is becoming digitized, before you would carry cash everywhere but now everyone uses cards. Its simpler and more convenient, and it should be safer, but with thieves have found a way to steal from you without having to touch you. That's where RFID comes in.
What is RFID?
RFID stands for Radio Frequency Identification. It uses an electromagnetic field to identify and track objects integrated with the system through tags containing digital information. This elevated technology not only includes basic product information but access to sensitive data and tracking abilities from a distance.
Take your credit card for example, it has a chip built into it. When you go to pay, the scanner downloads the data to charge your credit card. That's the most basic example. This technology makes our lives more convenient, but thieves have figured out how to use this against us.
Ever hear of RFID skimming?
RFID skimming is a process of reading sensitive data on your credit card's RFID chip with a handheld RFID scanner. The RFID card can be 'skimmed' from a distance of 15 cm (5 inches) and from within your wallet in your back pocket. The thieves would take download your data in a matter of seconds and just like that they can duplicate your information, create a new card and steal your money.
What's even scarier is that they don't need anything more than their own phone. They can simply download an app, get close to where your wallet is and download your data. There is a way to protect against this, and that's where the RFID wallet comes in.
What is an RFID wallet?
An RFID blocking wallet or simply an RFID wallet is a wallet with a special layer of radio-signal blocking material that blocks signals from an unauthorized RFID scanner. It protects your EVM credit cards with RFID chips safe from RFID skimming.
Most RFID blocking material will allow the frequency bands that are commonly used in office punch cards and door locks. That means, your RFID blocking wallet will allow using your door access and employee punch cards without getting them out of the wallet and only block the higher frequencies (13.5MHz) used in Credit Card chips.
Do you need one?
Are you one of those people that carry cash or do you carry cards with a chip? If you use cards with chips, then you are at risk of RFID skimming and an RFID wallet will be beneficial for you. In a newly published report titled, Lessons Learned from Analyzing 100 data breaches, a total of 878.17 million data records were compromised worldwide in January 2021 alone, more than in the entire 12 months of 2017, setting 2021 on course to be a record-breaker in terms of breach volumes.
Its scary to think that as our lives become digitized, data hacks are becoming much more common. This is why it is important to protect yourself from this new wave of criminal, and arming yourself with an RFID wallet, is one of the best ways to do that.