Sunday, February 3, 2013

Just wave your card and spend up large--well, not quite.

The very thought of being able to wave my credit card at a terminal and be able to spend up to NZ$80 at any one time is a bit scary; not because I think that I will incur even more debt, but because if my credit card is lot and then picked up by some unsavoury character, I could be out of pocket. Of course my credit card has some sort of insurance on it and as long as I let the company know, I should be fine.
I guess what I am feeling is the old ‘future shock’ syndrome that I well remember teaching kids about in the 1970’s. Maybe I am a belated victim of this terrible affliction; one that will assail me more as I get closer to even more numerous senior moments. The idea that one just needs to wave at a terminal fills me with mistrust.
How can we have confidence in a system that seems so easy to rip off; at least on the surface? If a low-life acquires our cards, they could have some real fun if they acted quickly. I suppose that has happened with the present system too but this development feels like yet another step for the criminally minded entrepreneurs.
One must assume that the banks have done the sums and have an understanding that they will still make huge profits. I am not sure what it is that they know that leads them to this new move, but perhaps the gains for them are more than any expected ‘activity’ that is dishonest. I think I shall make the adjustment and things will go on as normal. One good thing is that I won’t have to line up behind someone even older than me who is trying to remember their pin number; that is after they have managed to find their card in the first place. No doubt the ever improving cameras will be ‘protecting’ us from the worst excesses of these parasites who love to rip us all off.