[LINK] 'POS shock : are you ready for 'chip' and PIN?'
gramadan at umd.com.au
Tue Jul 3 15:11:15 EST 2007
Banks are not waiting.
Paypass (http://www.paypass.com/) is currently being deployed in Australia.
This is a contactless smart card cash payment system. This can be used
with Cards, fobs or mobile phones (NFC)
Geoffrey Ramadan B.E.(Elec)
Chairman, Automatic Data Capture Association (www.adca.com.au)
Managing Director, Unique Micro Design (www.umd.com.au)
Bernard Robertson-Dunn wrote:
> On Tue Jul 3 14:29 , Roger Clarke <Roger.Clarke at xamax.com.au> sent:
>> Article Shock: are you ready for a readable article?
>> POS shock : are you ready for 'chip' and PIN?
> There are bigger shocks than chip and PIN in the pipeline. The first is NFC (Near Field Communication) or contactless cards, the second is the convergence of NFC and mobile phones.
> Australian banks have not needed to upgrade their credit card security because of the relatively low levels of card fraud. Now that other countries have started to implement chip and PIN, the fear is that the bad boys will start to move into magstripe territory - such as Australia.
> The banks are in a difficult position - do they upgrade their security with chip and PIN or wait for NFC and the next generation of mobile phones, which have the potential to be easier to use, but which are potentially less secure and unsuitable for systems that update the card with large transactions from central databases?
> See 'Contactless payments' about to explode, but are they secure?
> I learnt all about this at the recent Smart Card summit, so I'm an expert now.
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