Will Credit Cards Soon Be Obsolete?

Sept. 2, 2009 - PRLog -- Will credit cards soon be obsolete?

The New Payment Method That Might Make Credit Cards Obsolete

Contactless is a leading provider of advanced, open-standard contactless chip technologies, have announced they've made a 3-year agreement with First Data, a global leader in electronic commerce and payment processing services, in developing contactless payment stickers, in which will be marketed as GO-Tag products by First Data. On the agreement, INSIDE is to supply the MicroPass payment sticker prelams entirely 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. First Data will be marketing and distributing GO-Tag products to financial institutions, major U.S. merchants, and other distribution channels in a variety of form factors.

"First Data's GO-Tag Solution represents an important step in the evolution from today's plastic cards and fobs, offering a bridge to the future of mobile payments," says Barry McCarthy, general manager, 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."

As the executive vice president of payments for INSIDE Contactless, Charles Walton says also stickers, that highlights this agreement].

Since 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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