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15 October, 2009

finally, contactless payment is coming to Australia

According to this news article, after an 18-month trial, the contactless payment will be available in Australia for transactions less than $100 (AUD).

About 2,000 contactless terminals from Commonwealth Bank, 2,500 terminals from National Australia Bank and 350 units from ANZ will be installed to allow MasterCard PayPass and Visa payWave credit card holders to shop smoothly without the need to enter the PIN or sign the name.

This is a new speedy way to complete the transaction. However, the security of such wireless transaction (RFID) may raise another question... how secure is the RFID credit card. Well, there's the answer:

Some people, however, have been concerned about the security of the system. The bank attempted to reassure such doubters by saying that contactless payment was just as secure as paying with a card protected by PIN or signature. Markets that have introduced it have not seen a significant rise in fraud, Commonwealth Bank general manger merchant solutions Dominic White said. "The activity is not to take this and buy a few burgers fraudulent activity will be to use it to buy something larger," he said. For larger purchases, the cards operate with PIN and signature.

The best thing about using credit cards for shopping? You can earn awards points!

news sources:
CommBank installs contactless payments too (ZDNet Australia, 15 October 2009)
CBA installs contactless payments (Australian IT, 15 October 2009)

related blog entry:
changing the credit card type? think again (18 September, 2009)

Posted by Antony on 15 October 2009 10:11 PM | newstalk

more October 2009 blogs. (or 2009 blogs)
from iTunes Store:
Last year, a few guys at MIT published an extensive study on the security (or lack thereof) on the Boston subway's "contactless payment" system, that is used to get on our trains and buses. In brief, they could copy anybody's card with about $250 worth of off-the-shelf hardware, and could even give themselves unlimited free rides if they wanted.
Well, this is why I made my wallet.
Posted by Don_HH2K on 16 October 2009 12:30 AM.
I thought you always embrace the new technology. Perhaps only Microsoft's new technology.
Back to topic, you would serious think that the security on the credit card would be as weak as the transportation ticket system in your beautiful Boston?
Nice! You guys have the beautiful contactless public transport ticket system.
Posted by Antony on 16 October 2009 1:28 PM.
Please remember that you are talking to someone that uses mostly 10-year-old technologies and doesn't see any need for newer stuff. Need I remind you I only upgraded to digital cellular service less than two years ago.
Anyway, to answer your question, it's not a matter of how weak whatever's on the card is. Chances are, somebody will eventually be able to break that within a reasonable amount of time. Look at AACS in your beloved Blu-ray, which they also tried to push as "uncrackable" but got cracked in nine months.
What exactly is "beautiful" about an insecure payment system, contactless or not?
Posted by Don_HH2K on 17 October 2009 6:56 PM.

Posted by evision on 15 March 2010 2:43 PM.
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