New credit cards allow for 'speedy shopping'

Australian consumers can now get special "speed shopping" credit cards that remove the need to swipe, sign or punch in a PIN.

MasterCard and Visa hope the technology will change the way Aussies shop forever by cutting queues and encouraging people to carry less cash, the Herald Sun reported.

The cards work by allowing shoppers to spend up to $100 by simply placing their plastic on a reader at the checkout.

By putting a cap on the spend value, suppliers say the cards will be unattractive targets for fraudsters and other criminals.

The cards also have smart chips to stop skimming and counterfeits and banks can still detect lost or stolen cards and suspicious buying patterns, the Herald Sun said.

Such news is sure to interest Aussies looking to compare credit cards in search of the best spending options. Convenience 7-Eleven outlets and some IGA, Red Rooster, Boost Juice, Terry White chemists, Sumo Salad and Foodworks stores are among those to already accept the cards with supermarket giants Woolworths and Coles also expected to adopt the system.

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