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U.S. Bank to test contactless payment
November 27, 2006
Digital Transactions:U.S. Bancorp says it will start testing Visa Contactless credit cards by the end of the month in the Denver area. The test will involve an undisclosed number of cardholders who would be able to use the cards equipped with radio-frequency identification chips at about 600 area merchants that have chip-reading point-of-sale terminals. National merchants that already accept Visa Contactless include McDonald's Corp., Walgreen Co., 7-Eleven Inc., and movie-theater chain Regal Entertainment Group.
San Francisco-based Wells Fargo & Co. started issuing Visa Contactless credit cards this year and expects to have 400,000 in issue by year's end. Other banks testing or rolling out contactless cards or tokens include JPMorgan Chase & Co., Citigroup Inc., HSBC Bank USA N.A., and KeyBank. All four of these institutions have introduced contactless debit cards or fobs. Chase is the only one that has rolled out both contactless debit and credit products.
Banking Executive SummaryTransaction ProcessingOtherNorth AmericaComponentsDebit / CreditBank / Credit UnionSoftware
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