“Tap and go” payments now available on new eftpos Chip

Customers with eftpos-only cards can now “tap and go” at the checkout for purchases under $100 for the first time, as eftpos rolls out its new Chip technology.

The new Chip is “an industry effort to provide consumers with more payment choice,” eftpos announced in a statement.

ANZ, Bankwest and Credit Unions that issue cards through Cuscal have already started issuing multi-network debit cards featuring the new chip, which will allow consumers to pay without a PIN for transactions on CHQ or SAV.

The eftpos Chip technology will be rolled out to new and replacement credit and debit cards over the next three years.

“The new eftpos Chip will be embedded in eftpos-only cards and replace the old chips in multi-network credit and debit cards,” eftpos Managing Director Bruce Mansfield said.

“Point of sale terminals across Australia are also being upgraded with the eftpos Chip technology.”

“Consumers should continue to press eftpos CHQ or eftpos SAV to pay with their own money securely and in near real time.”

Australians make more than 6 million eftpos CHQ and SAV  transactions each day, using more than 39 million eftpos cards at over 820,000 terminals across Australia.

It is the most-used payment option at check-outs across the country.

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