[LINK] contactless credit cards
stil at stilgherrian.com
Thu Nov 18 05:53:55 AEDT 2010
On 17/11/2010, at 10:57 PM, Ash Nallawalla wrote:
> I sometimes pay for lunch with my Visa
> PayWave card at the ANZ HQ in Docklands, which has the Visa PayWave
> terminals. It requires the card to be held for about 2 seconds and about 1
> cm away before it registers.
Holding a card stationary for two seconds is clearly a major advance over swiping a card through a reader and pressing a few buttons taking three seconds. Unless we implement this vital time-saving technology immediately, our civilisation will grind to a halt through inefficiency. I know we're throwing away one of the two authentication factors, but clearly it's worth ridding our world of the debilitating physical burden of swiping. Moreover, the business of selling point of sale equipment and payment systems, struggling to make a dollar as it is -- especially Visa which I am sure is on the verge of bankruptcy -- needs the boost.
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