Contactless Credit Cards

AmEx, Capital One, Chase help phone companies launch mobile wallet in two test cities

Contactless credit card payments edged closer to the mainstream with the launch of Isis Mobile Wallet in Salt Lake City and Austin, Texas. A coalition of wireless carriers -- AT&T Mobility, Verizon Wireless, and T-Mobile -- rolled out the service to test users in both markets during the month of October. According to company statements, [...]

Categories: Contactless Credit Cards
MasterCard customers spend $600 more per month with PayPass contactless credit cards

Consumers spent 30 percent more using contactless credit cards than with their traditional, magnetic stripe credit cards in a study commissioned by MasterCard Advisors. The spending increase remained consistent across usage categories, signaling consumer preference to shift spending to their contactless cards and away from cash or other accounts. Researchers tracked two sets of MasterCard account [...]

Categories: Contactless Credit Cards
Young consumers are most skeptical about NFC security

Decades of hearing "don't leave home without it" may have convinced American consumers that they won't be replacing their wallets with smartphones anytime soon. A Radius Global Market Research survey found that concerns about fraud, security and network stability hinder electronics manufacturers' ambitions to process credit card transactions with near-field-communications devices. Conventional wisdom suggests that a [...]

Categories: Contactless Credit Cards
Chase, Capital One, Barclaycard support Isis Mobile Wallet launch

Chase, Capital One and Barclaycard will team up with three of the wireless phone industry's biggest brands to launch a mobile payment solution that aims to compete with Google Wallet. After operating in stealth mode for months, officials from the Isis project used their blog to announce the first three credit card issuers to confirm [...]

Categories: Chase Bank, Retail Cards, Capital One, Contactless Credit Cards
Google Wallet unplugs prepaid debit cards after hacking demonstration

Successful hacking attempts against smartphones running Google Wallet software have caused the software company to suspend access to customers' prepaid debit cards, according to news reports. In recent weeks, numerous software engineers and security researchers have called attention to vulnerabilities in the Android operating system that could leave Google Wallet accounts open to outside attack. The [...]

Categories: Contactless Credit Cards
EMV chip Visa credit cards hit $1M mark in US

American banks and credit unions have already issued over one million credit cards with embedded EMV chips, according to a new report from payment platform operator Visa. In a statement to reporters, company officials noted that customer requests drove a significant ramp-up in the number of cards that supplement a traditional magnetic stripe with a [...]

Categories: Contactless Credit Cards
Watch2Pay combines wristwatch with prepaid MasterCard

Mobile payments industry observers have focused most of their attention on smartphones with near field communications technology. However, an Austrian company has dreamed up a way for prepaid debit card users to avoid reaching for their pockets altogether. LAKS' new Watch2Pay product embeds a contactless EMV chip inside a black fashion wristwatch, enabling the wearer to [...]

Categories: Contactless Credit Cards
Visa won't force US merchants to adopt "chip-and-PIN"

After setting a 2015 deadline for installing a new generation of retail credit card terminals, Visa has taken steps to assure merchants that it doesn't intend to bring the stricter "chip-and-PIN" requirements from Europe into the United States. Visa spokeswoman Stephanie Ericksen took to her company's blog this month, clarifying that "EMV technology" can refer [...]

Categories: Contactless Credit Cards
New technologies woo business credit card users

As London officials gear up for a "contactless" Olympic Games this summer, industry analysts report that the public's lack of awareness about new credit card technology could hamper its adoption. According to a YouGov study, fewer than 1 in 10 Britons knew they could use contactless credit cards or NFC-enabled smartphones to pay for meals [...]

Categories: Small Business Credit Cards, Contactless Credit Cards
Subway the latest to enable Google Wallet payments

Another major restaurant chain signs on to support contactless credit card payments. Sandwich chain Subway announced plans to launch Google Wallet's PayPass technology in at least 8,000 restaurants during the first quarter of 2012. According to MasterCard officials, contactless payment tools have won acceptance at quick service restaurants and convenience stores, where customers appreciate faster checkout. Though [...]

Categories: Contactless Credit Cards
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