Card payment systems are revolutionising the retail market.
This week Coles introduced the Coles Mastercard Pay Tag which is basically a credit card allowing contactless payments but it sticks to the back of your phone. Mobile phones have long been touted as a way of making payments using their NFC (Near Field Communications) facility but until iPhone adopts the system it probably won't take off. In the meantime a stick on card seems a good idea.
Another interesting piece of news from one of our traders concerns our mobile EFTPOS machines. National Bank have introduced a contactless PayWave machine. At least one such machine is operating in the market. PayWave offers substantial time savings during transactions so we can expect traders to start hounding their banks for the facility.
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