February 25, 2005
Visa Offers RFID-Enabled Payments
Visa debuted their RFID-enabled card payment system, sans-cash and sans-swipe, yesterday. The new system enables consumers to pay for small items such as movie tickets, fast food, and convenient store items by waving an RFID-enabled card in front of a terminal. The card works at a distance of four inches. According to InformationWeek:
Visa has enhanced its VisaNet system to track contactless payment transactions through the authorization, clearing, and settlement processes, says Patrick Gauthier, Visa's senior VP of new product development. Card-issuing banks need to be able to recognize transactions as contactless when responding to customer queries. He declines to say whether any retailers have yet agreed to use the card.
Read more: Visa Debuts RFID-Enabled Card-Payment System
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