When will paywave be mandatory ??

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Forums › Finance and wealth management › When will paywave be mandatory ??

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#1233385 9-Feb-2015 13:28

old3eyes:
Geektastic:
markl:
Geektastic: When you say relatively new, do you mean here? I believe it was first offered in the US in 1997..and the UK in 2008.

Paywave offered in the US???? You're kidding right? The country where they still do PAY CHECKS as a standard means of paying people, where EFTPOS is virtually non-existant, and where you still have to SIGN for credit card payments at most retailers

Mobil was one of the most notable early adopters of this technology, and offered their "Speedpass" contactless payment system for participating Mobil gas stations as early as 1997. Although Mobil has since merged with Exxon, the service is still offered at many of ExxonMobil's stations. Freedompay also had early wins in the contactless space with Bank of America and McDonald's.

(Wikipedia)

Pity Mobil in NZ dropped the ball with technology and removed pay at the pump features..

Caltex did the same.. It was bad for business when people didn't need to enter the store.

mattbush

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#1233445 9-Feb-2015 14:45

markl:
Geektastic: When you say relatively new, do you mean here? I believe it was first offered in the US in 1997..and the UK in 2008.

Paywave offered in the US???? You're kidding right? The country where they still do PAY CHECKS as a standard means of paying people, where EFTPOS is virtually non-existant, and where you still have to SIGN for credit card payments at most retailers

Untrue...

Apple has had their iphone system in the US since iphone 6.0

nate

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#1233518 9-Feb-2015 16:00

sbiddle:
old3eyes:
Geektastic:
markl:
Geektastic: When you say relatively new, do you mean here? I believe it was first offered in the US in 1997..and the UK in 2008.

Paywave offered in the US???? You're kidding right? The country where they still do PAY CHECKS as a standard means of paying people, where EFTPOS is virtually non-existant, and where you still have to SIGN for credit card payments at most retailers

Mobil was one of the most notable early adopters of this technology, and offered their "Speedpass" contactless payment system for participating Mobil gas stations as early as 1997. Although Mobil has since merged with Exxon, the service is still offered at many of ExxonMobil's stations. Freedompay also had early wins in the contactless space with Bank of America and McDonald's.

(Wikipedia)

Pity Mobil in NZ dropped the ball with technology and removed pay at the pump features..

Caltex did the same.. It was bad for business when people didn't need to enter the store.

Loved it when it was at Mobile, at least now Z stations have it back again

mckenndk

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#1233521 9-Feb-2015 16:01

Loved it when it was at Mobile, at least now Z stations have it back again

Can you use the discount vouchers at the Z ones?

There are also Gull where you pay at pump all over the show, supermarkets and there is Caltex Old Hutt Road Fuel Stop too but no vouchers.

richms

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#1233541 9-Feb-2015 16:08

mckenndk:

Loved it when it was at Mobile, at least now Z stations have it back again

Can you use the discount vouchers at the Z ones?

There are also Gull where you pay at pump all over the show, supermarkets and there is Caltex Old Hutt Road Fuel Stop too but no vouchers.

Only up to a certain amount. Also they usually come over and bother you and say they will do it for you so that you go inside and end up buying stuff you dont need too. Although I do like some of the pies at Z.

Richard rich.ms

sbiddle

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#1233558 9-Feb-2015 16:22

mckenndk:

Loved it when it was at Mobile, at least now Z stations have it back again

Can you use the discount vouchers at the Z ones?

Yes.

coffeebaron

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#1233572 9-Feb-2015 16:51

sbiddle:
old3eyes:
Geektastic:
markl:
Geektastic: When you say relatively new, do you mean here? I believe it was first offered in the US in 1997..and the UK in 2008.

Paywave offered in the US???? You're kidding right? The country where they still do PAY CHECKS as a standard means of paying people, where EFTPOS is virtually non-existant, and where you still have to SIGN for credit card payments at most retailers

Mobil was one of the most notable early adopters of this technology, and offered their "Speedpass" contactless payment system for participating Mobil gas stations as early as 1997. Although Mobil has since merged with Exxon, the service is still offered at many of ExxonMobil's stations. Freedompay also had early wins in the contactless space with Bank of America and McDonald's.

(Wikipedia)

Pity Mobil in NZ dropped the ball with technology and removed pay at the pump features..

Caltex did the same.. It was bad for business when people didn't need to enter the store.

And BP.
Just saw some new (advertising) screens going in on BP pumps, but no EFTPOS :(

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#1233608 9-Feb-2015 17:39

Yeah a 0 factor authentication RFID payment system with a 4cm range, pre-activated cards sent in the mail... what could go wrong...

It sacrifices too much security for convenience.

Flickky

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#1233615 9-Feb-2015 17:45

It's interesting to note that most cities in Australia have paywave functionality and a whole range of different terminals. Was in Brisbane and the Gold Coast for a while over Christmas and only had to use cash once because their minimum credit card purchase limit was $10; used Semble for every other transaction.

richms

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#1233618 9-Feb-2015 17:50

They are not preactivated for paywave, first use has to be with insert and pin and not offline.

Richard rich.ms

Nil Einne

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#1233820 10-Feb-2015 06:06

sbiddle:
jarledb: From what I understand the average margin on groceries are very slim, so having to pay around 2% transaction fee would mean you are basically giving the groceries away. Thats why you won't see any of the big grocery chains accepting credit cards or paywave.

All supermarkets accept credit cards and now have Paywave/Paypass.

That isn't correct, neither of my local Pak'n'saves accept Paywave/Paypass. Credit card, sure, but insert and PIN only, at least as of about 1 month ago. For that matter, IIRC it was the same for the Mt Albert Pak'n'save about 4 months ago. Actually one of the Pak'n'saves seemed to get new terminals which looked like they will accept Paywave/pass, but they still don't.

Incidently, I don't know whether they moved from dialup or did something else, but their terminals got a lot faster a few months ago (this was before they upgraded them).

Nil Einne

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#1233824 10-Feb-2015 06:17

mckenndk:
nzkiwiman: I don't yet have a card that supports Paywave/pass
Maybe when both the eftpos and debit cards get refreshed this year I'll get a support card and then I can "test"

Most banks charge $10 a year for them so unless you want to use your card online or make it easier while traveling places it's not really needed.

Both my UK and Canada banks only give debit cards as your main card.

Depends. If you have sufficient self control and qualify for one (i.e. have a job and don't have terrible credit), a credit card with reward points can easily pay for itself if you're spending enough on it. E.g. with ASB it's about $3,300 every 6 months. And this isn't taking in to account any interest earned on money for the up to 55 days or so when it isn't used to pay for the transaction. Of couse the reward points are partially arising because of the fees the bank is making from the transactions from the merchants, so it depends how you feel about that. Still it's better than using Paywave/pass with a debit card which means that money is still going to fees but you're probably not getting any of it back plus you're also not getting the up to 55 days or so before payment advantage*.

*55 days before payment is how you should think of it, not 55 days before interest except in exceptional circumstances.

mckenndk

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#1233825 10-Feb-2015 06:32

Nil Einne:
mckenndk:
nzkiwiman: I don't yet have a card that supports Paywave/pass
Maybe when both the eftpos and debit cards get refreshed this year I'll get a support card and then I can "test"

Most banks charge $10 a year for them so unless you want to use your card online or make it easier while traveling places it's not really needed.

Both my UK and Canada banks only give debit cards as your main card.

Depends. If you have sufficient self control and qualify for one (i.e. have a job and don't have terrible credit), a credit card with reward points can easily pay for itself if you're spending enough on it. E.g. with ASB it's about $3,300 every 6 months. And this isn't taking in to account any interest earned on money for the up to 55 days or so when it isn't used to pay for the transaction. Of couse the reward points are partially arising because of the fees the bank is making from the transactions from the merchants, so it depends how you feel about that. Still it's better than using Paywave/pass with a debit card which means that money is still going to fees but you're probably not getting any of it back plus you're also not getting the up to 55 days or so before payment advantage*.

*55 days before payment is how you should think of it, not 55 days before interest except in exceptional circumstances.

That caught me out when I first got a credit card, the rewards points cards are usually "up to" 44 days interest free from when ever your account rolls over each month mine being on the 10th of the month for some reason.
So if I buy something on the 11th I get 44 days interest free, buy it on the 30th and I have 14 days to pay that item off if I have paid all the other previous items off, so you have to be mind full if you aren't paying it off each month.

Behodar

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#1233830 10-Feb-2015 07:08

Nil Einne: That isn't correct, neither of my local Pak'n'saves accept Paywave/Paypass.

My local New World doesn't have it either.

mckenndk

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#1233831 10-Feb-2015 07:13

Behodar:
Nil Einne: That isn't correct, neither of my local Pak'n'saves accept Paywave/Paypass.

My local New World doesn't have it either.

Neither does Ohakune, franchises probably have their own contract with eftpos companies than the mother company

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