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A smart card revolution in payment systems
Record ID:
22560
Format:
LIJ Article
Year:
2002
Author:
Theodore, Jim ; Galatas, Jennifer ; Sgro, Josh ;
Subject:
Smart Cards ; Payments ; Privacy ; Security ;
Source:
LIJ (2002) 76 No 3
Date_of_entry:
02/04/2002
Legislation:
Privacy Amendment (Private Sector) Act 2000 (Cth)
Notes:
Smart cards are gaining acceptance by Australian enterprises as a cost-effective and flexible alternative to traditional methods. However, the success of this revolution in payment systems depends on settled legal regulatory regime that inspires consumer confidence. ; Headings in this article include:- Smart cards - contact and contactless smart cards - How they work - The smart card advantage - legal issues ; Legal ownership - ownership of the card and software - ownership of the stored value - defects in title ; Security - The current regulatory regime of payments sytems - finality of payment ; Privacy concerns - Current legal and regulatory safeguards
Section:
Feature
Month:
April

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