We just got word of a new report, "Contactless Credit Cards Consumer Report 2006," which
describes the deployment of RFID technology in contactless payment systems currently being rolled out by Visa,
MasterCard, and American Express. The report says that by the end of this year, up to 50 million contactless
credit/debit cards will be in the possession of American consumers.
The report details the advantages (faster and more secure than magnetic stripe cards) and disadvantages (privacy issues) of contactless credit cards, as well what is in store for the future. By 2009, it is expected that nearly $12 billion will be transacted using contactless payment systems.
(Thanks Jimmy!)
