Card Swipe May Be A Thing Of The Past
Patricia Sabatini reports for the Pittsburgh Post-Gazette on the deployment of contactless payment cards. Now accepted at about 22,000 merchant locations nationwide, Sabatini reports that "Visa estimates that number will zoom next year by tenfold, to 220,000 locations."
Despite the time-saving advantages of no-swipe payments, analysts don't see the technology replacing standard swipe transactions any time soon.
"That's not something card companies are talking about," Mr. Buchner said. "It's for certain types of transactions. They're more interested in the incremental revenue of turning cash into credit."
For now, the focus is on persuading retailers to install the special card readers in locations where time counts most.
Add your comment... (note that all comments are reviewed before they're published)