by Duncan » Wed Jan 26, 2011 2:49 pm
Yea, it's up to the merchant to set the limit.
I work in the industry so the CEO talks about this kinda technology every time he's in our office. It's not really about laziness, but about efficiency. It's not the laziness of either the consumer or the merchant, it's about productivity. The faster you can get people in and out with your product with the least amount of wasted time and effort, the better the bottom line. How many of us have wasted away 10 minutes of our lives waiting in line because some n00b is paying by pennies or keeps forgetting their pin or the clerk can't seem to swipe a credit card worth crap at your favourite starbucks?
Security is definitely an issue, but as with all hacks, there are always new technologies to combat that (see the chip in your visa/debit card).
I think it's a good and bad thing sure, but it's come a long way from when any n00b could peek over your shoulder and memorize your visa card number/name/exp date and somehow pwn you...
But i agree encryption has to be better.
i really should be working