Comment Re:Cash is so much better. (Score 1) 186
This is because the EFT terminal needs to contact the bank.
You mean the few hundred millisecond roundtrip via the network.
Again you have a strange definition of "millisecond".
There is at least a 5 second processing time. Closer to 10 seconds in most cases.
A few milliseconds doesn't even cover the time it takes the checkout operator to press the button that sends the transaction to the EFT processor for you to insert your card (my country uses chip and pin, my current card doesn't even have a magstripe).
Lets not even consider those smaller stores who need to key in the price manually because the EFTPOS system isn't linked to the register (this makes it take even longer as you have to make sure they keyed in the right price).
Needless to say, by the time you've finished fumbling about with your card and waiting for the bank to respond, I've paid in cash and out the door.
Beyond this, I dont really want to give out my card details to every shop so they can store them on poorly secured servers that get compromised every few months (well this isn't a problem in Australia as its illegal to do this, but a serious issue if you live in the US).