23 May 2005
Leading credit card suppliers design contactless cards
A number of the world's leading credit card suppliers have today confirmed that they will be rolling out technologically advanced cards later this year that remove the need for the time-consuming process of swiping or pin-code entering during transactions.
Visa, MasterCard and American Express all are planning nationwide rollouts of the "contactless" cards that work through a radio frequency identification chip that transmits the user's credit and security information directly to the till.
The quick-pay devices could help consumers and businesses alike, an expert has said, although the failure of similar RFID devices in the past should act as note of caution.
"Nonetheless, we see great promise in this type of technology," said Molly Faust, a spokeswoman for American Express. "It's a great new payment product."
Elizabeth Buse, Visa USA executive vice president, echoed Ms Faust's sentiments.
"After successful trials in several regions of the world, we feel we have the right solution and this is the right time for Visa to make contactless technology available," Ms Buse said.
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