Quick Credit Cards Coming
Bob Keefe of Cox News Service writes about RFID-equipped proximity payment cards.
Bruce Cundiff, an analyst at technology research company Jupiter Research, doesn't give the new contactless cards a much better chance than those chip-embedded cards in the United States.
The biggest problem, Cundiff said, is convincing merchants to shell out millions to add new payment terminals to their stores. So far, he said, the card companies have typically helped pay for new equipment at partner merchants. "It's just going to take a lot of money, and it's not going to come from the merchants, because they don't really need this," Cundiff said.
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