-
Ask a question and get free supportUnlock new privileges and see hidden discussionsWin prizes and earn reputation
-
Question of the day ~ How often do you braai?
-
Afristay giveaway.Win a 2-night stay for two people at an establishment of your choice with R1,000 in spending money. Enter here.
Sign up with GoogleTap to Pay, Pay Wave, NFC Payments in SA...
- Thread starter gtway
- Start date
I work for a company that provides the technology behind payment platforms. So i have some knowledge on the subject.
The problem with NFC cards is that they are barely more convenient than using your credit/debit card in the normal way. The idea being that any payment under R200 (approx) is a 'tap and go' action not requiring a pin code. The trouble with the African market is that R200 is a lot of money to many people so the penchant for fraud is very high. Imagine someone could scan the card in your wallet with a handheld device while walking by you in a shopping mall. Wireless credit card machines are by far a more adopted and secure technology. Tap and go with a pin code does not reach the required level of convenience to create wide adoption.
In the near future with technologies like Apple pay you should be able to make payments from a 'virtual wallet' with may card instances for banking, public transport, loyalty, NFC door locks(hotel room cards), etc all from the NFC interface on your mobile phone. This is far more secure because your phone can act as a secure element with various level of security that can be applied. I.e if you use your bank card the phone may require a log in pin or bio metric signature. This is far more appealing from a convenience stand point as it replaces bulky wallets with may cards. The big problem is that you have to get all these entities to come to an agreement with each other on a common platform. This is difficult as everyone wants exclusivity to take advantage of the market while the consumer requires ubiquity when it comes to payment transactions.
The problem with NFC cards is that they are barely more convenient than using your credit/debit card in the normal way. The idea being that any payment under R200 (approx) is a 'tap and go' action not requiring a pin code. The trouble with the African market is that R200 is a lot of money to many people so the penchant for fraud is very high. Imagine someone could scan the card in your wallet with a handheld device while walking by you in a shopping mall. Wireless credit card machines are by far a more adopted and secure technology. Tap and go with a pin code does not reach the required level of convenience to create wide adoption.
In the near future with technologies like Apple pay you should be able to make payments from a 'virtual wallet' with may card instances for banking, public transport, loyalty, NFC door locks(hotel room cards), etc all from the NFC interface on your mobile phone. This is far more secure because your phone can act as a secure element with various level of security that can be applied. I.e if you use your bank card the phone may require a log in pin or bio metric signature. This is far more appealing from a convenience stand point as it replaces bulky wallets with may cards. The big problem is that you have to get all these entities to come to an agreement with each other on a common platform. This is difficult as everyone wants exclusivity to take advantage of the market while the consumer requires ubiquity when it comes to payment transactions.
Last edited:
Pho3nix
The Legend
- Joined
- Jul 31, 2009
- Messages
- 30,589
Most Zara stores and a couple other places in Sandton have them. Unfortunately the tellers aren't taught how to use them properly.
genetic
Honorary Master
- Joined
- Apr 26, 2008
- Messages
- 37,594
Lots of outlets have the facilities. The local superette here in Woodstock has the facility, but the owners don't know how to use it.