Woolworths’ contactless credit card use to boost confidence
News from Mozo.com.au:

The introduction of contactless credit cards at Woolworths outlets is set to have a major impact on consumer confidence in the technology, it has been claimed.

Customers using the swipe-only system will be able to pay for goods valued at up to $ 100 without entering a PIN or signing.

David Lindberg, cards general manager of the Commonwealth Bank, told the Australian Associated Press that the introduction of the payment method is a similar situation seen during the introduction of online banking.

“One of the big announcements is Woolworths using it in their stores and that is moving the market to a tipping point,” he asserted.

Mr Lindberg noted that any fraud that does occur will be covered by financial institutions, which should prompt greater confidence among consumers considering u…………… continues on Mozo.com.au

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Related News:

Some merchants stop taking credit cards because of high fees
News from Los Angeles Times:
Are high credit card fees pricing plastic out of the market?

Some businesses are putting the kibosh on credit cards to avoid paying processing fees that run about 2% of the transaction amount. In other words, every time you buy something for $ 100 with plastic, it costs the merchant nearly $ 2 in processing fees.

Multiply that by hundreds or even thousands of daily transactions, and that can add up to some serious coin. Typically, those costs are passed along to customers in the form of higher prices.

The financial services giant John Hancock is the latest to slam the door on credit cards, telling customers it will no longer accept payments via plastic for long-term-care insurance premiums.

“The decision to discontinue this option is due to the high fees associated with this billing method,” the company said in a recent letter…………… continues on Los Angeles Times
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