EDITORIAL: Paywave banking system seems to be an anomaly

EDITORIAL: In a time when we're regularly urged, with good reason, to be more security conscious than ever, the payWave banking system seems to be an anomaly.

Local police have warned shoppers several times about the dangers of having their cards stolen, because with the arrival of the new technology, purchases under $100 no longer need a PIN.

A thief could rack up a lot of $99 purchases before someone noticed their card was missing.

Most ATMs now have anti-skimming devices, every online password must contain an assortment of capital letters, numerals and other impossible-to-remember characters, and you can't speak to a bank unless you can remember the maiden name of your mother's great aunt's first pet (only a slight exaggeration).

Given the heightened security around every other form of transaction, it seems odd to me that payWave cards become the new norm.

Even though banks say they're safer because there's less risk of your credit card being "skimmed" by scammers with the new system, it doesn't seem particularly secure.

It's a whole new temptation for impulse-buyers.

It has one other side effect, too.

Just the other day, I tried to use a card that is usually only pulled out for small purchases - and found that I was so used to payWave that I could no longer remember the PIN.

Whoops - better put that $150 doodad back on the shelf!



REVEALED: The bail conditions for manslaughter accused

Premium Content REVEALED: The bail conditions for manslaughter accused

The smiley girl died from exposure to intense heat

'Murdering b*****ds':  Man in court over abortion rant

Premium Content 'Murdering b*****ds': Man in court over abortion rant

The serial phone pest was taking aim at the state’s abortion laws

Warning as ‘very, very hot’ heatwave continues to cook state

Premium Content Warning as ‘very, very hot’ heatwave continues to cook state

Queensland heatwave expected to continue until next week