To combat the risk of a thief going on a contactless spending spree, cardholders will, when they hit a certain number of transactions or amount of spending, have to enter their pin the next time they pay, typically, each time they rack up £50 spending.

…And in the case of RFID-enabled credit cards, RFID researcher Chris Paget, who gave a talk at DefCon, says the chips contain all the information someone needs to clone the card and make fraudulent charges on it [[From Feds at DefCon Alarmed After RFIDs Scanned | Threat Level | Wired.com ]]

…All you have to do it walk down the road with an $8 reader and you can get the all of the card details that you like and then use them to go on a spending spree.

…So if you are going to be in Brussles on those dates and you’d like to come along to meet some of the leaders in European payments sector, all you have to do is be the first person to respond to this post with the names of any three of the top 10 most famous Belgians of all time (as adjudicated by the relevant web site).

Read more: http://digitaldebateblogs.typepad.com/digital_money/2010/10/behind-enemy-lines.html