Companies Test 'Contactless' Credit Cards > - Dec 12, 2003 02:21 PM (AP Online) > >By BRIAN BERGSTEIN AP Technology Writer > >NEW YORK (AP) -- The familiar process of buying something with a credit >card _ handing the plastic to the clerk or swiping it yourself, then >waiting for approval and signing the receipt _ could be headed the way >of the mechanical brass cash register. > >For more than a year, MasterCard and American Express have been testing >"contactless" versions of their credit cards. The cards need only be >held near a special reader for a sale to go through _ though the >consumer can still get a receipt. > >The card companies say the system is much faster and safer because the >card never leaves a customer's hand. > >... > > - http://finance.lycos.com/home/news/story.asp?story=36828893
Yup, I have one. My Speedpass is good at Mobil gas stations and local McDonalds. It's pretty neat. Best regards, Mirage
The only problem I see with this is that ANYONE with possession of the card can use it and then you can't say "fraud! that is not my signature!"
