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COPYRIGHT 2005 SourceMedia, Inc.
In May, JPMorgan Chase & Co. became the first major bank credit card issuer to commit to widespread use of new card technology that provides contactless payments. The new credit cards have an embedded silicon chip that transmits payment information via radio wave to a transponder terminal at the point of sale.
In June, Chase will begin a market-by-market rollout of its "blink" technology to movie theaters and retailers including convenience stores like 7-Eleven and Sheetz. It plans to issue the cards to millions of cardholders and hundreds of merchant locations, according to Scott Rau, a svp with Chase Card Services.
It's a risky play, since contactless payments have been...
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