Tap n Go bank cards

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Rorie
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Tap n Go bank cards

Post by Rorie » Mon Apr 24, 2017 1:38

A lot of you most likely have one of these
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What you see above is a tap n go visa credit card, the appropriate term is visa paywave or master card paypass, this is a technology on your debit or credit card that allows you to make a payment on credit by waving your card on a eftpos payment terminal up to a particular value without having to enter a pin or sign the transaction receipt, In Australia the maximum amount is $100, not good if your card is stolen and the thief makes off with $1000 of your money!, the maximum tries and value should be reduced or at least give cardholders the option of disabling this, which at present not possible

despite of my criticisms this can be useful, like if you walk into a 7/11 to buy goods or if in a hurry just tap n go and you are on your way

do you have a tap n go? what is your view on this subject?
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Re: Tap n Go bank cards

Post by K1n9_Duk3 » Mon Apr 24, 2017 21:08

I prefer cash. Call me paranoid, but I prefer not to have my casual shopping tracked by some data mining corporation. (They probably still can track what was bought, but not who bought it.) It's also a simple and efficient countermeasure to the problem you described. The average thief can't steal more cash than what you are carrying with you.
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Re: Tap n Go bank cards

Post by chrissifniotis » Tue Apr 25, 2017 1:23

I've always seen that sort of tech as dangerous for more or less the reasons you mention. Plus I don't really subscribe to the idea of convenience, I can understand wanting to buy some shirts or anything else of actual value within the limit but I seriously question the motives behind a person buying a bag of chips or a single drink and not being able to gather the cash for it. Working in retail you do see people use it more often of course but I distinctly remember a person using a credit card to buy a Chupa Chup. (probably wrong spelling) Seriously? You don't have 35 cents to pay for a lolly?

I'm also one of the rare few that refuses to get a credit card or pay over the internet because of the inherent lack of control or security. I'm smart enough to know that credit cards work largely by people using it too much and then not paying for their impulsiveness, and that for all the security there is on the net it is never entirely secure due to hackers constantly updating their attacks. But that's just me, maybe I'm just too paranoid.

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Re: Tap n Go bank cards

Post by Keening_Product » Fri Apr 28, 2017 1:52

The risk of a thief just bumping into you with a a portable nfc reader on a tram or street and skimming your card is something I can't get over. If I ever have to carry one of these I'll be placing it in one of those signal-killing sleeves, which completely defeats the convenience argument.

Edit: just after posting that I came across this, which is a little teeny tiny bit relevant: https://twitter.com/ChrisHallbeck/statu ... 5242004480
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Re: Tap n Go bank cards

Post by MoffD » Fri Apr 28, 2017 11:34

Keening_Product wrote:
Fri Apr 28, 2017 1:52
The risk of a thief just bumping into you with a a portable nfc reader on a tram or street and skimming your card is something I can't get over. If I ever have to carry one of these I'll be placing it in one of those signal-killing sleeves, which completely defeats the convenience argument.
Eshhh, so much in agreement with this. I have a card with the new "EMV chip" systems, but thankfully no wireless.
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Rorie
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Re: Tap n Go bank cards

Post by Rorie » Sat Apr 29, 2017 0:15

Just reading on Wikipedia though not always reliable that the limit on contactless payments in the US is $25 compared to $100 in Australia before having to enter your pin

however these comments are visible on the United States section on the Wikipedia section
The actual floor limit is set for each merchant based on the card issuer's risk assessment and other factors. US$25 is the lowest value found, but US$50 is also very common. For lower risk merchants, or those willing to pay a higher "discount rate", a floor limit of US$100 (as found at Costco), or even more, may be assigned.

regardless of that the paywave limit in Australia is always $100 before entering the pin however there is no limit of how many contactless payment can be made, I heard on the news one night that a thief purchased over the limit with a stolen credit card and yes this happened in Australia, the thief stole fuel and cigarettes with a contactless card not belonging to them, i don't know about America but in Australia, smokes can be used as currency to obtain narcotics as the dealer can then place the smokes on the black market and make an even larger profit, this is why Australia has strict controls about how much tobacco can be imported into the country, yeah you must declare it but some of it is excise free and after being declared if you are over the limit you are given the option of paying the extra or having it destroyed. however if you fail to declare an at risk item or having more than A$10'000 in cash, you can forfeit it and be in serious trouble
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Re: Tap n Go bank cards

Post by nanomekia » Sat Apr 29, 2017 3:11

Rorie wrote:
Sat Apr 29, 2017 0:15
The actual floor limit is set for each merchant based on the card issuer's risk assessment and other factors.
Hm, that's interesting. It sounds similar to how credit is done - each merchant decides what limit is small enough that you don't actually have to sign for the purchase. One grocery here has it at $50, one at $25, various stores have it all over the place up to $75 iirc...
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Re: Tap n Go bank cards

Post by MitchellN » Fri Aug 18, 2017 8:45

K1n9_Duk3 wrote:
Mon Apr 24, 2017 21:08
I prefer cash. Call me paranoid, but I prefer not to have my casual shopping tracked by some data mining corporation. (They probably still can track what was bought, but not who bought it.) It's also a simple and efficient countermeasure to the problem you described. The average thief can't steal more cash than what you are carrying with you.
You're right. Plus you can't hack cash.

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Rorie
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Re: Tap n Go bank cards

Post by Rorie » Sun Sep 24, 2017 5:07

3 of out 4 of the Big Australian Banks have realized direct charging just for using an atm have failed and therefore committed to abolish the fee
http://www.abc.net.au/news/2017-09-24/c ... rs/8979250

I am a member of the Westpac Banking Group slash Bank of Melbourne so for me this is great news!

Only now all banks in OZ need to follow suit, the UK have already learnt from Australia's failure of direct charging
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Rorie
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Re: Tap n Go bank cards

Post by Rorie » Thu Nov 16, 2017 8:03

My Qantas Cash Card has the top and go feature but however Since I spent over A$100 yesterday I was able to tap the card but however I had to enter the card's pin, spent A$166.07 on Christmas presents on that, most of it on vouchers, my shop is now all done
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