Contactless Payment Credit Card Transactions On The Way From 7 Eleven

7-Eleven plans to introduce new contactless credit cards technology in their stores for purchases less than $100.

Planned to be introduced by 7-Eleven and ANZ Bank later this year, these new terminals are based on Visa technology. The cards will communicate with readers by radio waves and won’t need to be swiped through the usual credit card readers.

However, the retailers 388 stores in Queensland, Victoria and NSW will have terminals to allow any card to be swiped through it as usual. Even those from MasterCard who have contactless capabilities.

The new technology rollout coincides with the upgrade of the multi-million dollar SAP software which will help to strengthen 7-Eleven’s data analytics capability and improve transparency to franchisees.

When the lease on its payment terminals expired, the retailer decided to upgrade its units said Peter Dalton, ANZ’s innovation group general manager. He said: “You need the right card reader to read the contactless card. Each merchant will make the decision when it upgrades or rolls out those new terminals based on its investment for the cycle.”

“You’ll see more of this in the next few years.”

General manager of Visa Australia, New Zealand and South Pacific, Chris Clark said the acceptance of contactless technology had been slow in Australia but would improve because of new chip technology security. He would however not disclose the cost of upgrading to the new system but said it is similar to the cost of the old hardware. ANZ helped to subsidise some of the cost.

Mr.Dalton said: “We have discussions with merchants at the right time, but it has to make commercial sense.”

This is going to be the first major retail rollout of the technology for ANZ. The company is using their own technology in their new Docklands, Melbourne offices.The new centre is going to be the work home for 6500 staff, of which all have been issued with cards with Visa contactless chips that will be used to purchase goods from 11 retailers and 80 vending machines in the building.

The cards also double as security passes to regulate access to the ANZ building.Staff can further use these cards to authorise print jobs at the building’s printers.

Source: Australian IT

Comparison of our Top Credit Card Offers

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
Citibank Clear Platinum Card	A low interest rate offer on balance transfers and purchases	11.99%	2.9% for 12 months	$99	21.74%
St George Vertigo	An introductory offer on balance transfer and a low annual fee	13.24%	0.99% for 12 months	$55	21.49%
Virgin Flyer Credit Card	Earn 1 velocity point per $1 spent, plus an introductory offer on balance transfers	20.99%	1.9% for 9 months	$99	20.99%
Westpac 55 Day Credit Card	No annul fee for the first year with a low rate on balance transfers and purchases	0% for 5 months (reverts to 19.59% )	3.99% for 6 months	$0	21.49%
ANZ Frequent Flyer	An exclusive bonus points offer, Plus extended warranty, overseas travel and medical insurance,90 day purchase security insurance.	19.74%		$95	20.99%