http://paymentswatch.com/2007/06/26/chip-cards-contactless-and-big-macs/ Payments Processing & Strategies Mon, 21 May 2012 15:54:42 +0000 http://wordpress.org/?v=2.1 http://paymentswatch.com/2007/06/26/chip-cards-contactless-and-big-macs/#comment-4 Aneace Sun, 29 Jul 2007 00:33:31 +0000 http://paymentswatch.com/2007/06/26/chip-cards-contactless-and-big-macs/#comment-4 Great blog. I read it regularly. The problem with contactless is that the payment schemes are promoting the technology purely as a way to speed up transactions, which is not nearly enough to get merchants excited. There are very few contactless cards out there, and at the same time a perfectly reasonable solution exists with mag stripe cards, simply by eliminating the need for a signature for small value purchases. Maybe not quite as fast as contactless, but very close, and it works on all cards out there. The real benefit of contactless is to allow merchants to use data in the card to improve their business activities, something much more difficult to do with magstripe. Great blog. I read it regularly. The problem with contactless is that the payment schemes are promoting the technology purely as a way to speed up transactions, which is not nearly enough to get merchants excited. There are very few contactless cards out there, and at the same time a perfectly reasonable solution exists with mag stripe cards, simply by eliminating the need for a signature for small value purchases. Maybe not quite as fast as contactless, but very close, and it works on all cards out there. The real benefit of contactless is to allow merchants to use data in the card to improve their business activities, something much more difficult to do with magstripe.

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