Contactless Technology Not Understood
A few years ago there was much talk of contactless technology allowing
credit cards to become the new cash and be used for quick, small value
transactions instead of coins and notes. So far the technology remains
small scale and has not seen the type of takeup fist expected.
This is the findings from a new report conducted by Auriemma Consulting
Group (ACG). Only 3% of the population are even aware of the technology
and a far smaller percentage of transactions are made using the
technology.
In Australia consumers have not been given much of a chance to use the
touchless credit cards. Commonwealth
bank credit cards is the only issuer providing the technology
at the moment and the vast majority of retailers are not able to accept
the touchless cards.
The next 24 months will be the real test for the technology as it's
availability in majot cities increases. By the end of this time period
it is likely we'll know if it will change the way we spend forever or
just be another idea that never quite made it!
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Click4Credit will track the advances in credit card technology so watch
this space for more updates. We will compare credit cards
offering the touchless systems as they become available.
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