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24/05/2011 -
One major retailer in Australia made headlines recently when it announced that it would be introducing a new payment processing method for customers, in hopes of making checkout times quicker.Woolworths announced that it would be introducing a new contactless payment system that will allow shoppers to use their Visa payWave. The technologically advanced cards allow people to simply flash their plastic payment cards in front of a terminal without having to sign or swipe.
"We were the first to introduce contactless payment facilities at our petrol stations in 2009 via our proprietary e-pump technology," said Vipin Kalra, Visa's Country Manager in Australia. "Woolworths was also Australia’s first national retailer to implement world class chip payments security as well as pre-swipe and the provision of PIN on credit card payments that have allowed our customers a faster and more secure service at the checkouts."
While the new payment method will speed up transactions, there are potential risks. In an April interview with the Toronto Sun, Gord Jamieson, director of risk management and security at Visa Canada, said that there was "a remote risk that data could be intercepted but we have multiple layers of security that really address that potential."
