Are Credit Cards Going To Be Obsolete In The Near Future?

Sept. 2, 2009 - PRLog -- A New Payment Method That Might Make Credit Cards Obsolete

Contactless, one of the leading provider of advanced, open-standard contactless chip technologies, have announced that they've made a 3-year agreement with First Data, a global leader in electronic commerce and payment processing services, of developing contactless payment stickers, in which will be marketed as GO-Tag products by First Data. On their agreement, INSIDE is to supply the MicroPass payment sticker prelams only to First Data-qualified card manufacturers for production.

The agreement leverages the core technology from INSIDE Contactless and the issuing and transaction processing power of First Data. GO-Tag products will be marketed by First Data to financial institutions, major merchants in the U.S., and all other distribution channels in a variety of form factors.

First Data's GO-Tag Solution represents a very important step into the future plastic cards and fobs, and offers a bridge to the future of mobile payments according to Barry McCarthy, the general manager of Mobile Commerce and Point of Sale Solutions for First Data. "Our partnership with INSIDE Contactless enables us to offer consumers an opportunity to turn just about any personal item, from a mobile phone to an employee ID badge, into a payment device."

According to Charles Walton, executive vice president of payments for INSIDE Contactless, the agreement highlighted the versatility of the MicroPass platform to support a variety of contactless payment applications and form factors, including stickers.

As Contactless credit card technology becomes more common in the marketplace, it would be a good idea to update your restaurant POS system with them in the near future. Customer service is all about speed and the faster we can process transactions at the restaurant point of sale terminal the better our customer experience will reflect on the value of our services.

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The author of this article is the VP of Customer Relations at POS-For-Restaurants.com with over 20 years experience helping restaurants nationwide increase their efficiency and bottom-line profits using restaurant POS systems.

You may visit http://www.pos-for-restaurants.com for more information on how our national network of restaurant point of sale experts can help your business achieve greater success in these difficult economic times.

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