SEMBLE is so cool, but...

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Forums › Finance and wealth management › SEMBLE is so cool, but...

JonoGZ

3 posts

Wannabe Geek

#193678 20-Mar-2016 10:18

Have just swapped to ASB so have signed up with semble. Love using my phone for payments and the added security of only turning on the nfc chip when I choose the card is perfect. And yet ....

Retailer uptake.
I'm fairly confident that paywave type transactions are charged as visa/Mc transactions even if using a visa debit card. This will restrict who installs the tech as who wants an extra 2.85% bank charges per transaction.

Visa/Mastercard only.
I have to sign up to a visa debit (yearly cost) for each acc I want to use. Unlike physical card can add a chq and Sav.

Acc balances.
Which card to use. Ahhh the one with money. ...

No atm cash out.
Unlike oz no bank seems to have contactless atms.

So cool easy to use app. But why they didn't just develop a standard that visualized an eftpos card from either their app or inside a banks app I don't get.

Kyanar

4089 posts

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#1516355 20-Mar-2016 11:03

I was under the impression that Paymark or someone was actually working on contactless EFTPOS. Once that's done, then Semble could theoretically support EFTPOS as well. Until then, it must use the Visa/Mastercard acquiring networks which have an NFC application (you are correct incidentally, they are charged as Visa or Mastercard).

Which bank has contactless ATMs here in Australia? I've not encountered a single one - though some banks now have the ability to cash out from an ATM using a PIN code generated from the mobile app.

code15

198 posts

Master Geek

#1516357 20-Mar-2016 11:11

I'm not sure if EFTPOS has any incentive to develop a contactless version, given the system is run by the Banks who make much more profit from payments processed through credit card networks.

JonoGZ

3 posts

Wannabe Geek

#1516377 20-Mar-2016 12:20

Maybe that pin thing is what i'be been told about. Still they need contactless atms I think. ...

Paymark the main eftpos provider is joint owned by ANZ,BNZ,ASB and westpac so it's their system already. Paymark own 50% of semble. (The rest split between spark, Vodafone and 2 degrees because they are using secure Sims rather than HCE like ANZ have)

JonoGZ

3 posts

Wannabe Geek

#1516381 20-Mar-2016 12:28

Either way charging a visa transaction for debit accounts means my little dairy or food cart is going to think twice about enabling contactless limiting where I can use it and reducing the chance of leaving the actual card at home.

(Noticed that my local BK and whitcoulls didn't have paywave)

sbiddle

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Biddle Corp

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#1516388 20-Mar-2016 12:52

JonoGZ: Have just swapped to ASB so have signed up with semble. Love using my phone for payments and the added security of only turning on the nfc chip when I choose the card is perfect. And yet ....

Retailer uptake.
I'm fairly confident that paywave type transactions are charged as visa/Mc transactions even if using a visa debit card. This will restrict who installs the tech as who wants an extra 2.85% bank charges per transaction.

Incorrect. Paywave/Paypass transactions on a debit card have much lower interchange rates than a credit card transactions. This wasn't always the case (and was why Countdown had it disabled for a while) but I've been told it's no longer the case.

As of October last year MasterCard also introduced a <$15 rate for micropayments.

The 2.85% will also vary significanty on who you're with - this is not the interchange rate set by Visa/MasterCard, it's the rate that the bank or merchant sets. Most big retailers pay waaaay less than this.

sbiddle

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#1516394 20-Mar-2016 13:06

Kyanar:

Which bank has contactless ATMs here in Australia?

All new ANZ ATM's in Australia now support contactless. I saw a few when I was over there last weekend.

coffeebaron

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#1516445 20-Mar-2016 15:22

sbiddle:

Kyanar:

Which bank has contactless ATMs here in Australia?

All new ANZ ATM's in Australia now support contactless. I saw a few when I was over there last weekend.

A few of these machines appearing in NZ now too.

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