COMMONWEALTH BANK CREDIT CARD Further developments in banking. This month’s bill had notification of changes about the Visa Credit Card NO MORE SIGNATURES It restated that signatures will soon be phased out and to always use a PIN CREDIT INFORMATION FOR OUTSIDE BODIES As of 12 March 2014 credit providers can provide more information about you to credit reporting bodies. You will have the right to limit use by credit reporting bodies of your information for marketing purposes. The credit reporting bodies used by the Commonwealth Bank are Veda, Experian and Dun & Bradstreet CHANGES TO CREDIT CARD CONDITIONS OF USE EFFECTIVE [TODAY] 1 MARCH 2014 DEFINITIONS EXISTING DEFINITIONS The word “Card” is replaced by “Card and Device” The word Device means a physical device [for example a card, a mobile phone or PayTag] used with electronic equipment to access your card account NEW DEFINITIONS Contactless Payment –a way to pay for a purchase by tapping your card or device on a VisaPayWave, MasterCardPayPass or similar terminal, with no need to use a PIN or signature. PayTag means a sticker that can be ordered through our mobile phone application/s to enable Tap & Pay functionality. Tap & Pay means contactless payments functionality that users of our mobile phone application/s can set up directly on a supported device or by using a PayTag by which they may make payments by tapping their phone at a MasterCard PayPass, Visa PayWave or similar terminal. COMMENTS The PayTag definition is of interest as it is a sticker to enable the ability to Tap and Pay. Relocation of the “sticker” to the person who wants to tap and pay is the next logical move as mobile phones and other electronic devices can be lost or stolen. Now that signatures are going and PIN numbers are difficult to remember especially by the elderly, who often do not have mobile phones, the next step of a mark on the person I believe is a “no brainer” BIBLE PROPHECY [AD 96] Revelation 13:16-18 “And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: 17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. 18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
Posted on: Sun, 02 Mar 2014 00:55:25 +0000
Trending Topics
Recently Viewed Topics
© 2015