INSIDE Contactless, a French provider of advanced, open-standard contactless chip technologies, today announced that its MicroPass 4006 contactless platform is at the heart of U.S. Bank's PayID Card, this year's Paybefore Award winner for Most Innovative Prepaid Program.
MicroPass 4006 is a unique bridge between the open standard payments ecosystem and the community of HID iClass-enabled systems deployed globally and the only contactless solution available that makes it possible to combine ID and physical/logical access control applications with contactless payment capabilities, according to a company release.
U.S. Bank is the first card issuer in the United States to use a single card for traditional magnetic stripe purchases, contactless payment transactions and to gain access to secure facilities. The MicroPass 4006 platform embedded in the cards contains both open standard contactless payment applications, which allows for contactless payment at the point of sale, and the HID iCLASS application, which allows for contactless access to secure facilities.
"U.S. Bank is thankful to INSIDE Contactless and our other partners on this program for their dedication and creative contributions to helping us achieve this unique, simplified solution for our cardholders," said Dominic Venturo, chief innovation officer of Retail Payment Solutions for U.S. Bank. "Improving the overall customer experience is one of U.S. Bank's primary concerns, and we will continue to innovate with new technologies and solutions to maintain our leadership."