You will have issues at places with the new terminals that do not allow for swiping tho.
I have an EFT-POS card that has no built in chip. It does expire this year. Will the new one have a chip?.
No idea. Just know that the sweet deal on a new terminal that some places have got to offer no surcharge paywave has a terminal with nowhere to swipe. So the lunch bar near work has their old one for swipe transactions and the new one for paywave/chip use.
I'm pretty certain that its the same hardware that is the no surcharges promo from the terminal vendor. Work sells things that cant be done thru visa/mastercard so that deal was of no interest to us since many people do not have any ability to use their credit cards thru the check or savings buttons and have to use their ATM card to eftpos.
If there’s no surcharge on the ones that don’t support swipe that’s great. I have payWave turned off on my card, so if lose it someone can’t run around doing transactions on it (with damaged chip that may not work either), I use watch or phone to do payWave and that is working fine.
I suspect we'll see cash handling fees in the future.
Meanwhile I've just been to a restaurant that gave a 5% discount for paying with cash.
Which is technically illegal. You can walk into a store and they have a promo offering five years interest free on TV X which costs $5000. If you ask what the cash price is and they say $4500 you can then say thanks very much I'll take that price and put it on five years interest free.
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