Submission + - Cannot opt-out of unlimited contactless payments
The idea behind this technology is that you can make a transaction without needing to sign or enter your PIN when making a purchase. You just wave your card in front of a reader and the transaction is complete. There is no physical contact between your card and the reader — in fact you don't even need to take your card out of your wallet.
I learnt the following:
1. The transaction limit is AUD $100 per transaction.
2. There is no limit to the number of transactions.
3. You cannot set a limit.
4. You cannot opt-out.
I raised several security concerns and was advised that I'd receive a reply to my case. The reply on 6 August did not address any of my concerns and I put them in writing to the bank on 9 August. The second bank reply arrived on 28 September and it did not address my concerns in any substantial way.
I am concerned that I cannot opt-out or limit my exposure to this technology — I didn't ask for it and I don't want it. There is no protection against skimming my card and once it becomes known that there is no limit to the number of transactions, there will be an incentive to physically steal my card for those who may not be so technologically advanced which potentially exposes me to a higher risk of physical violence — since it's like carrying a large amount of cash in your wallet.
I've kept a log of my interaction with the bank. It shows their email responses and my email to them as well as related information as I learn more about this:
* http://blog.itmaze.com.au/search/label/paypass
What else can I do to get my point across to the bank, since the level of response I'm getting indicates to me that those replying appear to have no idea what I'm talking about.