$4.1m goes missing as Chinese bitcoin trading platform GBL vanishes

Re:$4.1m goes missing as Chinese bitcoin trading platform GB... by nopassrecover on Tuesday November 12, 2013 @12:39AM (#6716070)

I don't know whether costs are reduced for PayPass (tap to pay), but it seems anecdotally that any place supporting PayPass has removed credit card minimums.

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Re:$4.1m goes missing as Chinese bitcoin trading platform GB... by nikcub on Tuesday November 12, 2013 @04:15AM (#6716668)

PayPass is used by high volume merchants where the cost is low and absorbed. The retailers who have minimums on EFTPOS are using expensive PSTN units that cost up to a dollar per transaction.

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Re:$4.1m goes missing as Chinese bitcoin trading platform GB... by XorNot on Tuesday November 12, 2013 @01:58AM (#6716287)

I haven't carried cash in months due to PayPass (and discovering my debit card actually had it). I still don't like the "always on NFC" nature of it (I want a button on the card to turn it on), but it's quick and seems to go through a lot faster then the old PIN systems.

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Re:$4.1m goes missing as Chinese bitcoin trading platform GB... by voltagex_ on Tuesday November 12, 2013 @07:50AM (#6717439)

I've seen "offline approved" as a response from some of these terminals - I wonder if that means it's checked later?

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