SmartCode, the US manufacturer of RFID hardware, has revealed its SmartPay RFID solution for the burgeoning contactless payment market.
Not requiring any physical contact between the credit card and the terminal, the SmartPay Credit Card RFID solution enables customers to make payments by simply waving their card at the terminal, reducing processing times for small purchases.
Murdo Munro, vice president of mobile and wireless for MasterCard International was enthusiastic about the technology. We’re trying to really push cards to be used where cash is traditionally used. The challenge we have is to find products that merchants and consumers like enough to stop using cash and start using these products.
Faster, no-contact credit transactions will speed up lines in convenience stores, movie theaters and fast-food restaurants – anywhere customers typically use cash or swipe credit and debit cards for small purchases, said Scott Rau, Senior Vice President of product development with Chase Card Services Many of the places we’re targeting for small-payment purchases are cash dominated, and they’re slowly migrating to accept credit.