• Use of contactless payments triples in one year
    37 replies, posted
Spending on contactless cards more than trebled over the last year to reach a record £2.32 billion in 2014, according to data published today [06.02.2015] by The UK Cards Association. UK consumers used their contactless cards 319.2 million times last year, with 10 contactless transactions taking place every second. The total number of contactless transactions jumped from 100.4 million in 2013. The spending limit on contactless cards is to be increased to £30 from September 2015. [url]http://www.bbc.co.uk/news/business-31164806[/url] [url]http://www.theukcardsassociation.org.uk/news/contactless_surgeJan2015.asp[/url]
It's great, that's why. No cash machines, no pins, no loose change, no notes to drop. It just makes a casual night out so much easier.
i literally took out a natwest account for a contactless card and i love it
Why can't we just adopt this sort of stuff in the US already. I'm a cashier and swiping cards is a pain in the ass - they don't work a good percentage of the time anyways.
These seem really cool. It's a shame that the US is so behind in the times because of the logistics of implementing new technology.
[QUOTE=MrEndangered;47088169]It's great, that's why. No cash machines, no pins, no loose change, no notes to drop. It just makes a casual night out so much easier.[/QUOTE] Until someone takes it from you :c
[QUOTE=.Isak.;47088272]Why can't we just adopt this sort of stuff in the US already. I'm a cashier and swiping cards is a pain in the ass - they don't work a good percentage of the time anyways.[/QUOTE] When I was in the US, quite a few modern stores (such as Wegmans in New York) had those PayPass contactless card terminals. It was pretty neat using the virtual-card feature in the Google Wallet app, but seems a bit gimmicky for anything other than frequent and fast purchases. I can see why people would enjoy the convenience though. But don't worry, you shouldn't need to swipe much more; come late 2015, most companies will need to push out EMV-chip card readers, since the major credit companies will be [URL="http://blogs.wsj.com/corporate-intelligence/2014/02/06/october-2015-the-end-of-the-swipe-and-sign-credit-card/"]denying liability[/URL] for fraudulent swiped transactions after that date. Most of the world have used the EMV chips for years, works pretty well, so hopefully all the POS-systems in the US get updated fast.
so is this like NFC or is it RFID
[QUOTE=Wii60;47088795]so is this like NFC or is it RFID[/QUOTE] NFC is a type of RFID, [URL="http://blog.atlasrfidstore.com/rfid-vs-nfc"]this[/URL] explains it simply enough.
Contactless is awesome and makes life so much simpler for everyone involved. I can get whatever I want quicker and the cashier doesn't have to fumble around with the machine, wait for me to enter my pin etc... Definitely a great system.
I love paying contactless, makes simple stuff like getting a cup of coffee so much easier.
It's amazing how Contactless seems so much faster than Chip & Pin, I've noticed, even after I've entered my pin, Contactless still seems to clear the payment quicker. There's no reason NOT to use Contactless if your card allows it.
[QUOTE=Propane Addict;47088295]These seem really cool. It's a shame that the US is so behind in the times because of the logistics of implementing new technology.[/QUOTE] the notion of an entire nation the size of the US still using magnetic strip widely is baffling
[QUOTE=.Lain;47089684]the notion of an entire nation the size of the US still using magnetic strip widely is baffling[/QUOTE] They're used for pretty much every card but a lot of people are moving towards paying with their phone.
My life has become so much easier with just having to tap the card. Plus I find it weird you british have a £30 limit, in Australia its $100.
[QUOTE=zeromancer;47089671]It's amazing how Contactless seems so much faster than Chip & Pin, I've noticed, even after I've entered my pin, Contactless still seems to clear the payment quicker. There's no reason NOT to use Contactless if your card allows it.[/QUOTE] contactless is offline - the payment doesn't go through until a couple of days after and it's not processed instantly. such as i bought tons of coffee, checked at a cashpoint, £5 avaliable, cool, go to shop, buy lunch, check balance in 3 days and i was £15 in overdraft
[QUOTE=codenamecueball;47092555]contactless is offline - the payment doesn't go through until a couple of days after and it's not processed instantly. such as i bought tons of coffee, checked at a cashpoint, £5 avaliable, cool, go to shop, buy lunch, check balance in 3 days and i was £15 in overdraft[/QUOTE] With my bank its online. It will not allow me to over spend and comes up in transactions same day. Yet my room mates is 3 days.
I can also do cardless cash at ATMs. Tell the bank on my phone that I am going to withdraw and how much, it gives me a huge number to punch into the ATM, I punch it in along with a pin code sent to my phone and tada! Withdrawn the desired amount of money from the atm without a card. Great for parents as well; as children can withdraw the amount you allowed.
The only problem with contactless payment with card is that proper identification isn't needed, so if someone had stolen your card, could freely use your cash /credit as they please (unless you're smart enough to block it in time). Back to the point though, it's great. I rarely carry cash anymore and it makes getting shopping done quickly [editline]7th February 2015[/editline] [QUOTE=Bradyns;47092614]I can also do cardless cash at ATMs. Tell the bank on my phone that I am going to withdraw and how much, it gives me a huge number to punch into the ATM, I punch it in along with a pin code sent to my phone and tada! Withdrawn the desired amount of money from the atm without a card. Great for parents as well; as children can withdraw the amount you allowed.[/QUOTE] Commbank's the only bank that has that SMS / app code to access nearby ATM's right?
WE use them at our school; sped lunch queues right up and makes it a hell of a lot easier to just grab something quick.
[QUOTE=shutter_eye5;47092643]Commbank's the only bank that has that SMS / app code to access nearby ATM's right?[/QUOTE] Pretty sure, yeah.
makes life 10 times easier when you send someone to the shop with your card
My contactless chip broke or something :(
I got a new card recently that has contactless, feels good.
This stuff is amazing. My bank had been quietly rolling these cards out for over a year, but hadn't been making a big deal about it. But the moment it started to get traction, with payment terminals everywhere having been updated, all they had to do was: "Hey, you know your bank card? Flip it over. Does it have {icon}? Good, you can do contact-less payments. You're welcome." And it works so well! Put my lunch on the counter, swipe the card, walk away. It's so much faster, that I've actually noticed lines getting shorter at a lot of stores.
I was on my way home once absolutely fucked (drunk as balls) from nightclub, walked into McDonalds, ordered loads of shit for like 13 Euro, had no cash, took out debit card and told cashier: "wait give me few minutes, can't remember pin", so I stood there for a while until he asked me to give him debit card, he looked at it and told me to just touch terminal with it. I walked out with food, even sobered up thinking about the magic that just happened. tl;dr - I didn't know my card supports contactless payments, it's only later that I realized what wave symbol means on my debit card. Pretty handy shit. P.S - I still ended up blocking my card that day, ATM's don't support contactless cashout...
[QUOTE=zeromancer;47089671]There's no reason NOT to use Contactless if your card allows it.[/QUOTE] Sometimes (at least with my bank in Australia), the payment may not come out until days or even a week later - which can be confusing if you keep strict checks of your bank statements and/or use budgeting tools.
[QUOTE=Bradyns;47092614]I can also do cardless cash at ATMs. Tell the bank on my phone that I am going to withdraw and how much, it gives me a huge number to punch into the ATM, I punch it in along with a pin code sent to my phone and tada! Withdrawn the desired amount of money from the atm without a card. Great for parents as well; as children can withdraw the amount you allowed.[/QUOTE] We have that in the uk, but its only if you're out and you've lost your card so have no money
I imagine a big part of this is because of the iPhone 6's NFC capabilities
[QUOTE=WaLLy3K;47097402]Sometimes (at least with my bank in Australia), the payment may not come out until days or even a week later - which can be confusing if you keep strict checks of your bank statements and/or use budgeting tools.[/QUOTE] Yeah but you can still view available funds which is good enough
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