> But the risk is no higher for an Apple Watch than ... a wallet full of credit cards no? Especially if you use a credit card where you have charge back protections.
That's yet to be determined. If someone takes my credit card, the most that they can do is 3x £45 transactions (unauthenticated contactless limit).
If they are able to perform PIN authenticated transactions with my credit card, I'm going to be facing an uphill battle, as the onus is on the consumer to protect their PIN.
Equally, contactless transactions via Apple Watch or iPhone are supposed to be authenticated transactions via PIN / biometrics, which is likely to result in the same uphill battle.
EDIT: I've ignored the comparison to Rolexes, as the topic is about the risk of credit card fraud, not about the risk of theft of physical belongings. If we're talking about the risk of theft of physical belongings, then yes, the risk is lower for an Apple Watch than a Rolex, because a Rolex is (by market value) generally worth more, and in some cases can command more on the secondary market than new, unlike an Apple Watch (so far)
That's yet to be determined. If someone takes my credit card, the most that they can do is 3x £45 transactions (unauthenticated contactless limit).
If they are able to perform PIN authenticated transactions with my credit card, I'm going to be facing an uphill battle, as the onus is on the consumer to protect their PIN.
Equally, contactless transactions via Apple Watch or iPhone are supposed to be authenticated transactions via PIN / biometrics, which is likely to result in the same uphill battle.
EDIT: I've ignored the comparison to Rolexes, as the topic is about the risk of credit card fraud, not about the risk of theft of physical belongings. If we're talking about the risk of theft of physical belongings, then yes, the risk is lower for an Apple Watch than a Rolex, because a Rolex is (by market value) generally worth more, and in some cases can command more on the secondary market than new, unlike an Apple Watch (so far)