Coles fears 18 ways to pay

The proliferation of mobile phone payment options is creating headaches for large retailers. They have fears that the security of the payments network could be compromised.

Shane Harris, Coles head of Payments, said: ”We are seeing Apple Pay, Android Pay, Samsung Pay and others.

“Eftpos is coming out with its online payment method,” said Shane Harris. “How do you make sure you that you don't end up with 18 different ways to pay?”

Mr Harris said the range of payment options would push up costs and increase the chance of fraud.

Source: Australian Financial Review