While the cards are a boon to merchants and are part of a large new RFID industry — from manufacturers who make the tags and readers to software companies that create data analytics for ROI — the technology also presents some security concerns as merchants may have the ability to track goods and services more closely than some would like.
Posts Tagged ‘Contactless Cards’
Contactless Cards: Are Privacy Jitters Legit?
Friday, September 29th, 2006Contactless Credit Card Saves Time At Cash Register
Tuesday, May 24th, 2005Chase is starting a roll-out a new contactless credit card that is expected to save time at the cash register. The initial rollout will be a 7-Elevens, CVS drug stores, and Regal Cinemas. See posting: JPMorgan Chase to Roll Out No-Swipe Card – Yahoo! News
U.S. financial institutions are excited about this technology because they believe more people will start using their credit cards more often instead of cash. Consumers are expected to be able to buy stuff quicker than using cash. All they have to do is bring the card “close” to the credit card reader and no signature is required when purchasing. Many other countries have already adopted mobile payment options as a regular way to buy stuff. U.S. banks are hoping contactless credit cards will quickly be adopted in the U.S. See posting Bank Technology News | By the Numbers for more information on the banking outlook for contactless cards.
