Credit Card security, big data and Burger King

UntitledI got a call from ASB Bank. They had detected “unusual activity” on my credit card. After verifying that it was indeed the bank (and not a scam), I worked out that I’d lost my card. Someone had found it and spent $2 at Z Energy then $3.20 at Burger King, then more at BK, then back to Z again. Rinse and repeat. Finally, a trip to McDonald’s.
Pay wave is really convenient. But rather insecure. However, the bank called me. Within about 90 minutes. It triggered an alert and they acted. THAT’S INCREDIBLE!
Apparently the thief tried a larger purchase (>$100) and it was declined because he didn’t know the PIN.
Once I’ve filled out the paperwork, it’s likely I’ll get fully refunded for the fraudulent purchases.

One more thing: what would have happened if it wasn’t a pay wave card? It probably would have taken me much longer to find out it was lost and cancel it.

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