Bank of Spain warns of mistake most Spaniards make when paying with mobile phone

Paying with a mobile phone is now as common or even more common than paying with a card, let alone cash, and its use continues to grow in a trend that It seems inevitable to carry everything on your mobile phone and do almost everything with it, but this comes with risks.In a specific payment case, the Bank of Spain warns of a mistake made by most Spaniards. But don’t worry, because if you make them, the bank will also tell you how to avoid them.

Popularity of mobile payments: it couldn’t have happened without my NFC

NFC is a technology that is used in particular for mobile payments, and today it is already one of the functions we look for first in a smartphone. In recent years, mobile payments have become common practice in Spain.

According to the latest data A study of cash usage habits Bank of Spain (BdE), Every fourth Spaniard regularly uses their smartphone to pay for purchasesThe convenience and speed offered by this method are undeniable, but it also presents certain risks if not used with due caution.

The most common mistake: not checking the amount

One of the most common mistakes users make when paying with their mobile phone is not checking the amount before completing the transaction. The Bank of Spain warns that You must ensure that the amount displayed on the POS screen is (Point of Sale Terminal) is valid until payment is confirmed.

To summarize contactlesswhich allows you to make small payments without having to enter a PIN code, many users are used to simply holding their mobile phone to the terminal, without paying attention to the amount. This habit can lead to errors in collecting payments or even fraud. Surely this has happened to you at some point or is already a common practice.

The importance of protection

Another aspect that is often overlooked is getting a POS receipt. This small piece of paper contains all the details of the transaction and can be indispensable in solving any problem. this may arise later. Although many users prefer not to print the receipt for reasons of sustainability or simply out of haste, the Bank of Spain recommends always asking for this document.

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Additional security measures

First of all, to avoid possible fraud or errors, the Bank of Spain also offers:

• Keep your store receipt: This ticket can be physical or electronic. Comparing this amount with the charges in your account will help you control your spending.
• View your account movements– Check your bank account expenses regularly to ensure there are no unknown or incorrect transactions.
• Activate SMS notifications: Check with your bank to see if you can receive an SMS message every time your card is charged. This can alert you immediately to any unauthorized transactions.

When should they ask you for your PIN when paying with your mobile phone?

At the moment, Contactless payments that do not require entering a PIN code are limited to amounts up to 50 euros.

This means that any transaction above this threshold will require you to enter your secret key, which will force you to pay more attention to the payment process.

Paying with your mobile phone is convenient and fast, but as you can see, in addition to the great benefits, there are also great responsibilities and precautions, so it is better to listen to the Bank of Spain.