Most Aussies like PayWave and PayPass

Banks and credit unions will need to get customer consent before activating PayWave and PayPass contactless payment cards, if the recommendations of the Parliamentary Joint Committee on Law Enforcement's report on finance related crime are adopted.

Australians are the biggest users of contactless payments in the world, according to RFi Group research. 53 per cent of Australians who have a contactless card are using it. Contactless cards are either debit cards linked to a banking transaction account or credit cards linked to a credit account.

Police claim contactless cards, which do not require a PIN, have encouraged an increase in theft.
Banks reject this and say contactless cards are not a driver of fraud.

Source: Banking Day

Advertisement