Consumer Payment Card News

Contactless Bandwagon

Payment cards that enable you to “wave to pay” instead of “swipe to pay” are spreading like wildfire in the USA. This week VISA announced that its contactless payment feature will henceforth be known as “VISA payWave” and Discover is ready to announced the roll-out of its “ZIP” contactless payment solution. They will join “MasterCard PayPass” and American Express “ExpressPay.” The momentum for contactless payments in the USA has truly been remarkable, moving from regional adoption to national roll-outs in less than two years. VISA says there are approximately 31,000 merchant locations in the U.S. that accept contactless payments. MasterCard reports that its “PayPass” feature is currently accepted globally at 46,000 merchant locations. All the contactless cards used in the USA include magnetic stripe technology for traditional swipe card payments. However, the contactless option can also be offered on non-card devices, such as a convenient payment tag that fits on a key chain for easy access. For more information visit: “http://www.mastercard.com/PayPass”:http://www.mastercard.com/PayPass or “http://usa.visa.com/personal/cards/paywave/index.html”:http://usa.visa.com/personal/cards/paywave/index.html

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