Contactless - why?

princeofpounds

Perhaps the question should be the other way around - why not contactless?

Yes, it only saves you about 15 seconds and a fiddly card slot, but if we had magic contactless cards beforehand and invented the card slot, we'd never use it.

The mobile contactless payment technology is likely to permit the use of fingerprints as well as PIN authorisations for larger amounts, which will also speed things up for large payments.

Herbalus

princeofpounds wrote: »

Perhaps the question should be the other way around - why not contactless?

Exactly. I think the stronger somebody likes or dislikes contactless, the slightly crazier they are. Tin hats and the opposite - it's just not what I think. It's just there to be used if/when convenient.

It's an evolving technology and should be viewed as such. It's great when you can use it and it's suitable, but many transactions won't be eligible because the retailer doesn't have the tech or the value is more than £20.

I use it if it's there, but I'm not bothered if it isn't and I certainly wouldn't go out of my way to get a contactless card if my current card isn't due to be renewed/upgraded.

Gers

lee111s wrote: »

I think it's great and use it where ever it's available.

Perfect example of it's use is for the metro here on Tyneside. If the metro is approaching it's a hell of a lot quicker to flash my card at the reader than to count out coins, wait for the machine to reject half of them and subsquently miss the metro.

It's also super handy if you have forgotten cash or like me, don't really carry cash.

It's the same saying that gets thrown around with new technology...no one is forcing you to use it. If you don't like it, don't use it!

That' sreally interesting...I left Newcastle in November 2013 after almost 40 years living there and the metro didn't have that feature then. The new ticket machines which were put in just before then were a nightmare. As a casual / non-frequent user I was sometimes baffled by the complications it took me through to buy a ticket. I can well appreciate the usefulness of the contactless system.

spenderdave

I think the local buses here (Bracknell) use contactless - in my case I swipe my pensioners bus pass at it, but I think it has a contactless symbol.
I have not used it myself and not seen it in any of my normal shops, preferring cash for small amounts anyway. Am I right in believing the very first time you use the card contactless it will prompt for the PIN, which means if you never use it nobody else can?

Archi_Bald

spenderdave wrote: »

Am I right in believing the very first time you use the card contactless it will prompt for the PIN, which means if you never use it nobody else can?

As soon as you have used the card once with the PIN (in ATM, in shop, at bank counter) it can also be used for contactless payments.

TartanSaver

Herbalus wrote: »

Exactly. I think the stronger somebody likes or dislikes contactless, the slightly crazier they are. Tin hats and the opposite - it's just not what I think. It's just there to be used if/when convenient.

Fair enough. I can't say I have a particularly strong opinion. I don't use it because it's mainly not accepted where it might be a good option, and it interferes with my bus pass. My only real concern is that the move from two factor authentication to one factor is a step backward.

Part of the issue there is that banks assume you will only have a couple of cards in your wallet.

Archi and Grumbler's discussion above suggests a move to an alternative second factor instead of pin (such as facial recognition or fingerprinting.) This is nothing to be feared and might well be faster.

Mostly wanted to know where people find that it really is useful, and the responses have been helpful. Interested to read someone saying that transaction costs by card issuers are apparently lower. This matters - we ALL pay for transaction costs through prices, and I don't like the idea of small businesses being ripped off.

Herbalus

TartanSaver wrote: »

My only real concern is that the move from two factor authentication to one factor is a step backward.

I don't share this concern. Firstly, contactless transactions are limited to a maximum of 6 transactions worth a maximum £120 (going up to £180 in September) and that's if your thief can get 6 transactions worth as close to £20 - but not over - as possible. Contactless doesn't give carte blanche for thieves to spend your current account.

In any case, fraudulent contactless transactions are covered by your bank so you won't be out of pocket.

symphonies

Tap and go, I love contactless. But then again, I'm normally hopping on/off trains and buses in London so it's very quick and convenient as I no longer have to top up my Oyster card or carry one around.

Also, I tend to buy lots of take away coffees and pastries and places like Starbucks, Neros, Costa and Pret always accept them. However, I don't think I'd use it as much if I wasn't working/spending time in London. I can understand why those who live in smaller places don't bother too much about contactless.

Ronnygill

Didn't read all the replies but a non finance reason I like mine is that I am hygienic (not ocd!) and the thought of eating food in places like McDonald's after touching a keypad is horrific to me. I know for a fact that lots of people don't exactly keep clean hands through the day. Grim thought eh?

Chino

Herbalus wrote: »

Firstly, contactless transactions are limited to a maximum of 6 transactions worth a maximum £120

Where did you read / who told you this?