 Because no signature or PIN verification is typically required, contactless purchases are typically limited to small value sales.Lack of authentication provides a window during which fraudulent purchases can be made while the card owner is unaware of the card's loss.Major financial institutions & multinational corporations now offer contactless payment systems to customers as contactless credit cards have become widespread in the U.S., U.K., Japan, Germany, Canada, Australia, France, the Netherlands, etc, as consumers are likely to spend more money using their cards due to the ease of small transactions.