For security reasons, contactless card payments are limited to small transactions and can only be used a certain number of times between chip and pin transactio

For security reasons, contactless card payments are limited to small transactions and can only be used a certain number of times between chip and pin transactions. Since it lacks a second authentication factor the compromise is to limit how much can be spent if the card is stolen. The US could skip chip and pin if it switched directly to contactless mobile payments.