Tap and go or wave and pay

Mastercard and Visa cards with chips and radio antennas embedded can now be swiped or tapped at many checkouts for low value purchases, without the need to enter a PIN or signature. 7-Eleven outlets and some IGA, Red Rooster, Boost Juice, Terry White chemists, Sumo Salad and Foodworks stores accept such cards, and supermarket giants Woolworths and Coles are expected to adopt the system.

The industry expects expect widespread use in fast-food outlets and petrol stations within a year. "This is the next phase to replace cash," Mastercard Australasia vice-president Eddie Grobler said. McDonald's 811 restaurants nationwide no longer require signatures or personal identification numbers for buys of up to $35 on most credit and debit cards, but customers still have to swipe or insert their cards into a reader.

Almost four million MasterCard PayPass "tap and go" cards have so far been sent to Commonwealth Bank, Jetstar MasterCard and Woolworths Everyday Money MasterCard holders. Macquarie Bank, ANZ and NAB have started issuing rival Visa's payWave cards.

Source: Herald Sun