Coles and Woolies get ready for phone payments

As soon as this Christmas, you could be paying for your shopping with your mobile phone. And your phone will be helping you to find the best prices and collect the maximum rewards points and petrol discount vouchers.

Your new digital wallet will be an app on your phone that will link your bank account, payment card and supermarket chain.

This week Coles and Woolworths announced changes to their checkout payments systems that will eventually support full contactless and mobile phone payments.

Coles is removing PIN and signature verification for card payments under $35, starting this week in 118 Coles, Kmart Target and Officeworks outlets.

Woolworths is installing Visa payWave terminals at 30,000 checkouts across Australia, allowing customers with contactless cards to pay without entering a PIN code as long as the purchase is under $100.

Source: Courier Mail