Re:Request For Research: Basic Income
by voltagex_ on Wednesday January 27, 2016 @09:15PM
(#10985614)
Australia's a bit bigger, but with similar forward-looking banking systems.
I was floored when I had to sign my name (on a brand new touchscreen) in the US but EMV wasn't deployed.
Contactless payments were brand new too (I couldn't use Android pay at that point), but we'd had "tap and pay" in Australia for two years at least. In Canada, someone took a carbon copy imprint of my card. An imprint, in 2015!
I can't find the exact dates, but EMV has been in Australia for at least a decade, signatures were "deprecated" at the end of 2014 and cheques are pretty much gone now.
https://www.commbank.com.au/about-us/news/media-releases/200... says that NFC payments started in 2006, but they took a few years to really take off. Last year I could finally use my Android phone to pay pretty much everywhere (and it's more secure than an NFC credit card, because I need to unlock my phone and enter a PIN to make a payment)
Also, what's the deal with interbank money transfers in the US? All I need to send money to someone in Australia is the BSB (Bank-State-Branch) and an account number. It takes about 2 days for the payment to clear.
I was floored when I had to sign my name (on a brand new touchscreen) in the US but EMV wasn't deployed.
Contactless payments were brand new too (I couldn't use Android pay at that point), but we'd had "tap and pay" in Australia for two years at least. In Canada, someone took a carbon copy imprint of my card. An imprint, in 2015!
I can't find the exact dates, but EMV has been in Australia for at least a decade, signatures were "deprecated" at the end of 2014 and cheques are pretty much gone now.
https://www.commbank.com.au/about-us/news/media-releases/200... says that NFC payments started in 2006, but they took a few years to really take off. Last year I could finally use my Android phone to pay pretty much everywhere (and it's more secure than an NFC credit card, because I need to unlock my phone and enter a PIN to make a payment)
Also, what's the deal with interbank money transfers in the US? All I need to send money to someone in Australia is the BSB (Bank-State-Branch) and an account number. It takes about 2 days for the payment to clear.