i think what you are referring to is the new Visa PayWave machines that have been installed at Coles....they allow you to make purchases of less than $35 without a PIN/signature
you may have noticed that Mastcard have their own machines called Mastercard PayPass....these have been installed at my local Bunnings and allow you to make purchases of less than $50 without a PIN/signature....in fact you dont even have to swipe/insert your card, you just touch it on the machine and the transaction is instantly approved!!!
these initiatives are specific to the credit card companies, the major chains are just the early adopters.....expect to see them spread further in future months/years
i believe that security issues are dealt with by Visa/Mastercard themselves, in that they will refund any claims of fradulent use on these machines.....seeing as the max amount of each transaction is $35/$50, it is obviously a risk that they are willing to bear
