MasterCard Says Millions No-Touch Cards to be Issued
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A top executive with Mastercard Inc. said Monday the company, the world's No. 2 credit-card association, expected to have 4 million so-called 'pay pass' cards in circulation by year's end.
Speaking at an industry conference here, Ruth Ann Marshall, Americas president for MasterCard, said that Citibank, HSBC and Key Bank had all begun offering the cards, which are equipped with a radio-frequency chip that allows customers to pay for purchases by simply waving their cards at readers posted near cash registers or gas pumps.
My thoughts:
If someone steals the card, how quickly will they be able to wave your money goodbye?
With no need to sign or enter a PIN code, how secure will your money be?
A top executive with Mastercard Inc. said Monday the company, the world's No. 2 credit-card association, expected to have 4 million so-called 'pay pass' cards in circulation by year's end.
Speaking at an industry conference here, Ruth Ann Marshall, Americas president for MasterCard, said that Citibank, HSBC and Key Bank had all begun offering the cards, which are equipped with a radio-frequency chip that allows customers to pay for purchases by simply waving their cards at readers posted near cash registers or gas pumps.
My thoughts:
If someone steals the card, how quickly will they be able to wave your money goodbye?
With no need to sign or enter a PIN code, how secure will your money be?
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