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back to article MasterCard beds Everything Everywhere for exclusive pay-by-bonk

MasterCard has signed an exclusive deal to develop a pay-by-wave platform for Everything Everywhere over the next half decade – hopefully one with greater impact than the existing QuickTap service. The first product of the deal will be a co-branded payment platform, using Near Field Communications (NFC) to facilitate pay-by- …

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  1. Anonymous Coward
    Anonymous Coward

    Luddite

    Call me a Luddite if you like but I simply do not trust the pay by wave system.

    There may well be safeguards, encryption, payment limits etc but the past is littered with such systems that ended up being compromised. At least with the current system the card has to be physically removed from the wallet in order to be compromised.

    Fortunately, non of my current cards support this and as soon as I get one that does support it I will researching how to permanently disable it.

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    1. auburnman
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      Re: Luddite

      I would trust it as a virtual wallet system, where the maximum that comes out of it is what I've put in. I would love to leave twenty quid 'in' it for train/bus fares, vending machines etc. All the little things where I would either need exact change or would like to pay in a hurry. I would NOT touch it with a barge pole if it had a direct link to my bank account.

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      1. frank ly
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        Re: Luddite

        Virgin Money prepaid card, available in Visa or Mastercard flavours. Load it up with a certain amount and even you can't spend more than that on a blind drunk spree. Use it in retail readers and for online use.

        I use mine for online purchases and have it linked for Google market payments and Paypal. Check your transactions and balance on their website then top-up via a phone call to your bank when it runs low.

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        1. Anonymous Coward
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          Anonymous Coward

          Re: Luddite

          A phone call? How delightfully retro.

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        2. Anonymous Coward
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          Anonymous Coward

          Re: frank ly

          You must be joking.

          From the website:

          "You just pay 2.95% for each card transaction and cash machine withdrawal in the UK." - PAYG card

          "There is a flat monthly fee of £4.75 and a fee of £1.50 for each cash withdrawal in the UK." - Monthly card

          So your solution to not trusting pay-by-wave is to use a card that charges nearly 3% for every transaction and, as far as I can see, doesn't even implement the pay-by-wave. Genius

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          1. Tom 35
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            Re: frank ly

            What a joke. Was it created by the same people who created payday loans or something? Sounds like one of the scams to rip off poor people who need a credit card, but the banks will not give them one.

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          2. frank ly
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            Re: frank ly

            I don't pay a monthly fee because of card I have and the way I use it (why would I want a Monthly Card for long term online and Google/Paypal use?!) and I don't use it for cash.

            I use it as I said I did. This was a response to the person who didn't want a link to their bank account (for obvious reasons). Linking to an existing credit card would have other bad outcomes in case of fraud or CC details being compromised. Linking to a prepaid credit card, such as this one, could be another option so this would be a good solution.

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            1. Anonymous Coward
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              Anonymous Coward

              Re: frank ly

              > I don't pay a monthly fee because of card I have and the way I use it

              Instead you pay 2.95% for every transaction, not just cash. Put £100 in and you can only use it for goods and services to the value of £97.13. Use it overseas and the £100 becomes £96.61, sounds like a really good deal.

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            2. Anonymous Coward
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              Anonymous Coward

              Re: frank ly

              I should also mention that if you top up at a PayPoint then the £100 only gets you £94.46

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  2. Anonymous Coward
    Anonymous Coward

    Wonder how this lot will do?

    http://www.tiktap.com/ - Works using wifi.

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  3. Anonymous Coward
    FAIL

    Master Terd? Ummm Master Bates? Noo Master Card Sharks!

    Christ - I had to deal with "Master Card" in Australia over the phone, to find out some "business type details" for litigious reasons and ------

    They have NO Australian office number, staffed by scummy "Julian Assange" and "Wikileaks" sabotaging cretins - Noooooo they have a globalised call center to the Phillipines with lots of indignant ignorant people who can barely speak english and when asked for an AUSTRALIAN OFFICE PHONE NUMBER, they start with, "And what is your account number Sir?"

    It makes direct cashless trading look appealing - "Two bags of potatoes for 1 of your sheep?"

    "Mastercard - I trade you one bag of insecticide resistant head lice for $100,000 of your useless worthless American "printing press" toilet paper dollars?"

    Fuck them.

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