Coles abandons PIN usage for small credit card purchases
Article by Mozo
Aussies making purchases under $35 on their credit card at Coles outlets may be able to do so without using their personal identification number (PIN) or signing a receipt.
The firm is piloting a Fast Pay scheme, which will see 118 stores take part, reports ZDNet Australia.
Douglas Swansson, head of payment services finance for the firm, told the online portal that there has already been strong feedback from customers.
He noted that there are few security concerns, because any fraudulent transactions are usually covered by credit card providers.
"Card suppliers are confident it won't create a whole lot of unauthorised transactions," he stated.
Mr Swansson added that no additional machines or technology needed to be installed in Coles outlets to trial the scheme.
This comes after Woolworths announced that it plans to roll out contactless payment facilities across all of its brands in the near future.
Have a question about credit cards? Ask the money gurus at Mozo Answers.