The Visa Micro Tag for Contactless Payments
Visa has announced the availability of the Visa Micro Tag, a new key fob payment device embedded with Visa payWave, Visa's contactless technology feature. The Visa Micro Tag is designed to easily attach to a key ring, and allows cardholders to pay by simply waving their Visa Micro Tag in front of a contactless payment terminal without the need to physically swipe or insert the device into a point-of-sale terminal.
The Visa Micro Tag allows financial institutions to offer cardholders a companion device to an existing credit, debit or prepaid account. Designed to be small and durable, the Visa Micro Tag makes paying for purchases faster and more convenient.
Visa Micro Tags display the Visa Brand Mark and contactless indicator. A Visa account number is not required to be embossed or printed on the device, providing an additional layer of security for consumers carrying a Visa Micro Tag in visible ways, such as on a keychain.
"Consumers today are interested in using electronic forms of payment for small ticket purchases," said Pam Zuercher, vice president, product innovation and coordination, Visa USA. "As one of the smallest payment devices, the Visa Micro Tag allows cardholders to carry a payment device that delivers fast and convenient transactions, while also providing an added layer of security."
Visa Micro Tags can be easily manufactured and personalized as part of an automated manufacturing process similar to that of standard cards. This helps issuers control costs while more readily providing an exciting new payment choice to Visa cardholders. The Visa Micro Tag can also be made into a variety of shapes and sizes from flat to three-dimensional delivering innovative payment product design options.
To celebrate the debut of the new payment form factor, Visa Micro Tags loaded with $15 will be distributed to the first 1,000 San Francisco Giants fans entering AT&T Park's Field Club level September 26, 2007. In addition to distributing the Visa Micro Tags, Visa ambassadors will educate baseball fans on how the device works and encourage trial at concession stands located throughout the stadium.
Added Zuercher, "After using the Visa Micro Tag, consumers will understand how this innovative device can quickly make their lives easier by speeding them through checkout lines. We believe the Visa Micro Tag will help shape the future of payments."
American Express has offered their Express Pay contactless solution in a key-fob format for a while now. It allows you to tie it to any Amex or if you prefer to any current Discover or bank card that you already have. I have been using this Amex fob for a while now and it works great.
Posted by: jeremy | September 26, 2007 at 09:56 AM