Visa's Contactless Card Efforts
Larry Greenemeier reports for Information Week on Visa's contactless card efforts including the potential that contactless technology could be used to better secure cards.
Visa and MasterCard's vision of the future is in line with research and consulting firm TowerGroup's prediction that, by 2015, a large portion of consumer payments globally will move from cash to new cashless mechanisms, including the Internet, mobile phones, and radio-frequency-enabled devices. In fact, TowerGroup predicted in a January report that by 2009 the total U.S. market for contactless micropayments worth less than $5 will reach $11.5 billion, with almost $5 billion of that transacted via mobile phones.
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