This is standard practice though - apply pressure to an industry to publicly self regulate so that the government doesn't have to expend resources and political capital doing it.

We saw a similar thing with motorcycles when the zx-12 and hayabusa were released. Having top speeds over 300 and easily affordable caused bad press with people clamouring for the government to do something. In response the motorcycle manufacturers agreed to a 299km/h speed limit so they could show they were doing something and the government could say there is no a code of conduct.

No in this proposal it is even better! You have to PAY $25 in order to challenge a strike. So it is free to accuse but you have to pay for the right to challenge?!?!?! With a you get your money back if it was a wrong accusation. Bullshit

This was on a chip and pin card. It occurred 18 months ago with a Westpac visa card. Apparently I signed for the credit card payment in person somewhere in spain despite living in Australia. It was because they knew from other transactions that that was almost impossible it got flagged.

I don't know how they got the credit card details but the person I spoke to said it happens regularly, that there is usually 1 or 2 small transactions that are most likely to a small charity before 1 big transaction is put through. In my case it was exactly that, 2 under $5 transactions to random micro charities then 2 days later $25k.

Apparently they use the charities because they tend to be poorly managed or policed.

No idea. What do they do for people that are blind currently?

All I know is that you can't sign any more and have to use a pin. Also I wouldn't have though numeric dyslexia would stop you entering a pin in the same what normal dyslexia doesn't stop you writing. The challenge comes in the reading.

Not back then it wasn't ('94-02). The system then was mag stripe and pin or sign. I was working at a Coles (large supermarket chain) while at highschool and Uni.

On an online credit card purchase you get a OTP token generated for that transaction? How is it implemented? Do you need to be logged in to your bank to have access to a generator or some kind of app on your phone?

Not all of that fraud figure is credit card. And I am also well aware that the cost of the losses are socialised across all people. And I am ok with that. I know that I am paying an insurance premium when I use credit cards, however that cost is acceptable to me for the convenience of using credit cards.

As for cash discounts I absolutely make use of them. Cash is great for transactions with individuals, especially service providers over goods sellers. In those instances I use cash. But those make up the minority of my transactions because my grocery bill, my phone, electricity, petrol, etc are not open to a cash discount. My local butcher on the other hand is, but it is a small % of my overall bill.

As for more convenient. Not in a month of sundays. Cash requires either you to receive cash directly for a service or to go to an atm. I don't need to do that to use a card AND paywave / paypass is a lot faster than cash. 95%+ of the places I frequent use the contact payment method and those that don't accept card anyway.

I always have cash in a zipped section of my wallet. But it is only used in the off chance that the place I am going doesn't accept card. It happens so rarely that I often completely forget that I keep the money there.

As for 10 mins from the city, I live semi-rural. I'm close to an hours drive to the city and every where around here takes card.

We seem to be pretty good to sticking to the budget - usually out by only a couple of hundred plus or minus across a month. We also have 2 kids so the volume of transactions is quite high.

I don't know how they got my card details. I was in Australia and my card number was used with someone signing in person in Spain. Westpac had a new card in my hands 3 days later.

As for why I don't care where I stick my card. It is because I am protected. I have more than one card so it is the total inconvenience of getting a different card out. I have had the fraud detected automatically and the total lost time was about 30 minutes.

If I was responsible for insuring the security of every step of the money transfer chain I would go back to using cash.

Oh and yes - Australian.

Really?!?!? Have you tried to to see if it still works? The mag strip on my cards are silver and still work. There are enough times I have come across broken chip readers that not having a mag stripe would be a massive pain. Not to mention when travelling over seas...

Sorry as I added before it must be regionally different. In Brisbane I haven't heard it ever referred to as Paypass.

Don't disagree with your logic. I'm however not sure as to where that would leave me, as the cashier, liability wise given I was trained that I had to compare the signature on the paper to the signature on the card. The signature on the paper would not match what was on the card involved in the purchase. If you had signed it and then ALSO put CHECK ID next to the signature I would have been fine with it. But no signature on the card and I would have baulked at making the call to be responsible.

What happens when you get home and call your back and dispute the transaction? The signature receipt I have accepted is copied and sent to the bank, then your card is checked for verification. On the back of your card is CHECK ID and it looks absolutely nothing like the signature on the piece of paper. What happens then?

Why carry 10 cards? I carry 3, a visa, mastercard and an AMEX. They all hit the same credit account and from the mastercard and the visa I can also access my savings and my cheque account.

When I go to a shop I get the option of contactless which will always hit the credit account, or using the chip and choosing Cheque, Savings or Credit. In which case I use a pin. Also if I use the Cheque or Savings option it bypasses the credit card network so there is no charge to the merchant so in a lot of places we have a 2 or 3% surcharge for credit, none for the other accounts (which we call eftpos)

Given that all my cards hit the same accounts I do use the same pin on all of them. Also I think 1 shared pin across 10 cards is still more secure then the dodgy signature.

Because I have a wife whose card hits the same account and I don't go through my back statements each month. I put EVERY transaction on my credit card, from buying a coffee to parking to supermarket and everything else in between. That means my credit card statement is LONG. Yeah I know I should keep every receipt and check it against the statement at the end of the month but no.