Gavin Brown, University of Liverpool; Richard Whittle, Manchester Metropolitan University, and Stuart Mills, London School of Economics and Political Science
Contactless payments may be convenient – but they also make it easier to overspend.
While Apple Pay may have won the battle against some of Australia’s banks, it may lose the war against the providers of digital wallets, such as Tencent and Alibaba.
The banks could have used their collective bargaining power not only against Apple for Apple Pay but also stall the adoption of mobile payments in Australia.
Researchers have found the £20 limit for contactless payments with credit and debit cards can be tricked into accepting unlimited payments without entering a PIN number – when used with a foreign currency…
There is mounting evidence that consumers are making less use of cash, while the use of electronic payment methods, particularly debit cards, continues to increase. But are we heading towards a cashless…