The greatest risk consumers and merchants face as a result of recent developments in the payments system is a loss of choice, the head of Eftpos Payments said yesterday.
Eftpos managing director Bruce Mansfield said innovation in the retail payment market should incorporate choice and multi-functionality. He said he was concerned that recent developments did not meet these objectives.
Speaking at the Payment Innovation conference in Sydney yesterday, Mansfield said: "Contactless technology does not give consumers or merchants choice as to where a payment is sent."
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