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I've seen the future and it's wireless baby!

Discussion in 'Finance & Banking' started by Nigel Ward, 12th Apr, 2006.

  1. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    CBA will be the first to trial a non-contact credit card, that will allow users to complete transactions under $35 without swiping or signature.

    Initial trials will be in "the Shire" :) , Wollongong and the Central Coast, NSW.

    I like it.

    N.
     
  2. Jacque

    Jacque Team InvestEd

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    Location:
    Sydney
    So how secure is it Nige? Sounds like an interesting concept :)
     
  3. benneh

    benneh Member

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    2nd Oct, 2006
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    Canberra
    eek, i am guessing here, but it would probably be using something like RFID just like your next passport, and these have already been shown to have some serious vulnerabilities.

    I'd be investing in the companies making faraday shielded wallets instead :D
     
  4. masterjunko

    masterjunko Member

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    21st Dec, 2006
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    Location:
    Sydney, NSW
    Wireless, so anyone passing by can have a swipe at the card... :rolleyes:
     
  5. Smartypants

    Smartypants Well-Known Member

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    Location:
    NSW
    Would also be concerned over the safety issue on a card like this.

    If you were to lose your card, without a signature verification (yeah, I know, a lot of shop people hardly check it anyway), it would make it so much easier for anyone that may have your card.

    Only $35 transactions sure, but it wouldn't take too long to rack up a fair amount of debt.