Chase Rolls Out Contactless CreditCards
NEW YORK - (05/20/05) -- J.P. Morgan Chase & Co., thenation's number one issuer of credit cards, announced Thursday itwill be the first issuer to begin offering Visa-branded contactlesscredit cards, which Chase calls 'blink.' Contactless cards aretapped on readers at the point of sale, instead of swiped. Designedto get customers through merchant lanes faster, they use radiofrequencies to transmit essentially the same data that are storedon a card's magnetic stripe to the merchant's processor. The NewYork-based bank says it will begin offering "Chase credit cardswith blink" on a regional basis after working with merchants tosecure broad acceptance.