one powerball and switchmullet already made us aware of this technology. How many transactions does it allow, what's the limit for the day? Does anyone use it? I can see the 'convenience' but I still can't get passed the fact that a signature is secure and it only takes, literally, seconds to input a PIN and have it approved. As OPB states, it's just made it easier for thieves :((
Pay at the speed of tap, with MasterCard, PayPass on your Commonwealth Bank MasterCard.
We're writing to let you know that if you have a Commonwealth Bank MasterCard card you already have the power of MasterCard PayPass in your pocket - you'll see the logo on your MasterCard.
PayPass is a fast, easy and safe way to make everyday purchases of under $100, and it's quickly becoming the new way to pay.
PayPass is already available at thousands of locations worldwide. Locally, PayPass is available in many locations, including:
* Bunnings * 7-Eleven * Dymocks * McDonalds * Newslink newsagencies * and selected IGA convenience stores
As the only Australian bank to feature PayPass technology in every MasterCard card, we've made sure it's secure too:
* Your card has to touch the PayPass reader to work so there's no risk of accidental payments * Even if your card accidentally touches the reader more than once, the transaction can only be processed once * Our state of the art technology monitors your account 24/7 against fraud. So if any unusual activity takes place, you'll be alerted immediately. If the unlikely happens, and an unauthorised transaction occurs on your card, we'll reimburse you 100% 1.
So the next time you go to pay, look for a PayPass reader, and simply tap your card on the reader and go, no PIN or signature is required for purchases under $100, it's that easy.
