Visa Introduces New Payment Device

SAN FRANCISCO – Visa yesterday rolled out a new “fob” payment device, no bigger than your thumb, which can be used to replace the ubiquitous credit/debit card. The Visa Micro Tag is designed to attach easily to a key ring, and allows cardholders to pay by simply waving their Visa Micro Tag in front of a contactless payment terminal without the need to physically swipe or insert the device into a point-of-sale terminal. Visa Micro Tags display the Visa Brand Mark and contactless indicator and a Visa account number is not required to be embossed or printed on the device, providing an additional layer of security for consumers carrying a Visa Micro Tag in visible ways, such as on a keychain. The fobs can be easily manufactured and personalized as part of an automated manufacturing process similar to that of standard cards. This helps issuers control costs while more readily providing a new payment choice to Visa cardholders. The Visa Micro Tag also can be made into a variety of shapes and sizes, from flat to three-dimensional, delivering innovative payment product design options. To celebrate the roll-out, Visa is giving away 1,000 Micro Tags loaded with $15 to San Francisco Giants fans entering AT&T Park's Field Club level today.