Consumers should have to opt in to have a bed in your hotel room! Just like with Contactless on Cards
Mattresses come automatically, but if you want a bed you have to tick the box. This is an entirely logical scenario if we look at what the Australian parliamentary committee has called for. It wants banks to create an opt-in service for contactless cards in order to counter fraud. The report cites evidence provided by Victoria Police revealing a notable rise in deception offences with new technology, which allowed fraudsters to commit multiple low value transactions with stolen credit cards.
Consumers of course already have the right to ‘opt out’ in that the can go to a different bank, just as if a hotel did not provide beds, only a mattress on the floor, a lot of people may choose to use a different hotel. What a great way to stifle innovation, you make consumers have to opt in to receive it.
It is worrying that governments feel the need to protect consumers to such a degree when in most cases banks already take on the liability if/when there is a fraud. I like to think that one of the advantages of the free market is that where there is a demand there will generally be a supply. If the demand for non-contactless cards was big enough either the banks or a new entrant would meet that need.
Cashless Stadiums, Events & Festivals
A new global review of cashless stadiums both open and closed loop. A look at the recent open loop trials at festivals in Europe.
A key question many brands ask as their initial prepaid card contract comes up for review is ‘Have we got the best deal?’ Polymath Consulting's structured review process can help ensure you are getting the best deal or find you the best solution if just launching.
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