STORED VALUE CARDS:
While SVC Suppliers/Vendors/System Operators are indicating that they, as the suppliers of technology, are expecting contact smart cards to enter the Sydney marketplace in 1997/98, there are still many issues which need to be addressed including:
Only Australian notes and coins have the status of legal tender in Australia; SVC value does not have this status.
There is currently no specific consumer protection regulation in NSW concerning SVC.
Absence of commercial and legal policies concerning the provision of transaction receipts, allocation of loss in the event of unauthorised use or system malfunction and refunds of unused balances on cards.
Privacy and trade practices issues
Multiplicity of standards for contactless cards
It is recognised that system maturity or full acceptance of SVC will occur over a number of years.
(Back to Document Table of Contents) (Next Page)
|