[LINK] 'POS shock : are you ready for 'chip' and PIN?'

[Geoffrey Ramadan]

Bernard Robertson-Dunn wrote:
>  On Tue Jul  3 15:11 , Geoffrey Ramadan <gramadan at umd.com.au> sent:
>
>   
>> Banks are not waiting.
>>     
>
> Yes they are.
>
> a) Paypass is cash, not credit
> b) Paypass is low value
> c) Paypass is being trialled, it is not widespread
> c) Paypass is not replacing the magstripe infrastructure, it's in addition.
>
> Telstra is also trialling its NFC technology - next year
> http://www.computerworld.com.au/index.php/id;958278670;fp;4194304;fpid;1
>
> I'm talking about widespread replacement of magstripe for credit cards.
>   
My understanding is that all new EFTPOS terminals need to be EMV 
compliant (and many are already). Further more, there is an imperative 
to migrate from DES to TrippleDES encryption. This will require many of 
the EFTPOS terminals to be upgraded. I assume once this infrastructure 
is in place, banks will start to issue EMV cards.

Reg
Geoffrey Ramadan