Visa Unveils New Payment Device

SAN FRANCISCO - Visa 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.