National Australia Bank, VISA Encouraging Insecure, Low Cost Payment Card Transactions?!
Fran Foo writes on Australian IT:
The popular salad bar outlet has been trialling technology that allows customers simply to hold their credit or debit card up to a contactless payment reader to pay for lunch.More here.
The cards, issued by National Australia Bank, are embedded with Visa's chip-based payment technology called payWave.
According to NAB and Visa, more than 500 merchants in Melbourne will start using the technology and thousands more are set to sign up before the holiday period.
For purchases under $100, hungry patrons need not sign or enter their PIN, hastening the transaction process.
Comment: Wow, the possibilities for fraud & abuse here seem endless. -ferg
posted by Fergie @ 9/22/2009 09:17:00 PM
1 Comments:
"Less cash left on the premises means less theft," he said
I'm guessing this guy is only thinking of himself (typical), and not his hapless customers. What a moron.
Still, just as with passport ID theft, this is yet another problem most easily solved with a hammer (to the appropriate spot on the credit card).
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